Source - SMW
StatPro, a provider of cloud-based portfolio analysis and asset pricing services for the asset management industry, expects group revenue to grow by 30% to approximately £49.0 million for 2017.

Group adjusted EBITDA is expected to be approximately £6.9 million, up 35% from the year before.

Group annualised recurring revenue (ARR) increased by 39% to £53.0 million.

StatPro Revolution ARR increased organically by 13%. 

ARR for cloud services (including Delta) increased by 106%, and for Seven (excluding the impact of conversions) by 2%.

Net debt increased to £20.2 million from £10.1 million due to acquisitions.

Justin Wheatley, group CEO, StatPro, said: "The acquisition and successful integration of Delta in May was the highlight of 2017. Delta has since increased sales and plans are in place to achieve functional parity for Delta within StatPro Revolution.

"Q4 was the best quarter in 2017 for new sales of StatPro Revolution. StatPro Revolution ARR increased organically by 13% in 2017 with our overall cloud ARR rising 106%. As a result, we are very confident that we will make further good progress in growing revenue and profits in 2018."