2013 Financial Highlights

Highlights:

  • StatPro Revolution annualised recurring revenue increased by 114% to £3.20m (£1.49m*), ahead of expectations
  • StatPro Revolution related recurring revenue** increased to £9.19m (£3.92m*), 37% of total software recurring revenue (16%*)
  • StatPro Revolution now has 34 fund administrator partners (21), a key strategic target market
  • Adjusted EBITDA lower at £5.46m (£6.73m), mainly due to increased spending on StatPro Revolution
  • Increase in Group net cash to £4.00m (£3.67m)
  • Release of key new features in 2013, including UCITS module and enhanced sharing
  • Good progress on StatPro R+ development, with beta launches during 2013

* Annualised recurring contract revenue is the annual value of revenue contractually committed at year end. Comparative is at constant currency
** Defined as the total recurring revenue from clients whose subscription includes StatPro Revolution

2013 2012 Change
Revenue £32.49 million £32.00 million +2%
Profit before tax £3.11 million £3.78 million -18%
Adjusted EBITDA* £5.46 million £6.73 million -19%
Annualised recurring contract revenue (constant currency)** £28.72 million £28.47 million +1%
Net contract growth rate – StatPro Revolution** 114% 234%
Cash flow from operating activities (before exceptional items) £9.40 million £10.18 million -8%
Net cash £4.00 million £3.67 Million +9%
Earnings per share – basic 3.1p 4.3p -28%
Earnings per share – adjusted* 4.5p 5.9p -24%
Dividend per share – total for year 2.8p 2.7p +4%

* Adjusted EBITDA and adjusted earnings per share are EBITDA and earnings per share after adjustment for amortisation of acquired intangible assets, share based payments and exceptional items
** Annualised recurring contract revenue is the annual value of revenue contractually committed at year end. Comparative is at constant currency.

StatPro Revolution recurring revenue 2013