Published on: January 25, 2017
Full year trading solid and in line
StatPro’s FY 2016 year-end trading update notes solid metrics on annualised recurring revenue (ARR), the forward order book and the resilience of StatPro Seven in conjunction with Revolution’s increasing ARR. The announcement notes revenue and profitability in line with management expectations with the two acquisitions made during 2016 performing well. Net debt was £10.1 million at the end of the year. As expected, the numbers reflect fluctuations of sterling during the year. In addition, there is a £10 million non-cash impairment charge relating to a Canadian acquisition made over ten years ago. We are reflecting the impairment charge in our estimates
for FY 2016 although there is no impact on adjusted numbers. We also increase FY 2017 revenue to be more in line with the Group’s end-2016 ARR. Our profit numbers remain unchanged ahead of the results announcement in March.