Published on: August 5, 2015
Interim results – transition to cloud services remains on track
StatPro’s H1 15 results announcement follows July’s trading update which had confirmed further progress and provided some revenue numbers. As expected, continued investment during the first half meant that StatPro reports a reduced adjusted EBITDA number which is in line with our full year expectation. Adverse exchange rate movements have affected the results but, as previously reported, revenues were ahead on a constant currency basis. The Group continues to move forward with revenue sourced from cloud services rising again as the business continues its transition to a purely cloud-based provider of analytics services. The interim dividend is maintained, the forward order book is strong and the outlook commentary is, unsurprisingly, confident. There is some useful new disclosure on KPIs and margins. The Group has put in place a new £20 million five-year financing agreement and we make minor adjustments to estimates which mainly relate to that.