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Published on: January 29, 2016

Trading update notes continued progress

Following last week’s announcement of the acquisition of Investor Analytics (IA), a US cloud-based risk analytics company, StatPro has released a trading update for its financial year to the end of December 2015. Adjusted EBITDA and revenues are expected to be very slightly below our estimates but show resilience in the face of sterling strength. We are updating estimates to reflect the expected FY15E numbers and the impact of the acquisition of IA on FY16E. The result of our conservative assumptions is a net 6% increase in FY16E revenues and adjusted EBITDA with a 1% increase in earnings. We have assumed that full integration is achieved during 2016.

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