2014 Financial Highlights

Highlights:

  • Additional investment in people, product development, data and IT resulted in lower adjusted EBITDA, down 10% at constant currency to £4.36 million (2013 at constant currency: £4.87 million)
  • Annualised recurring contract revenue* up 4% to £29.39 million at 31 December 2014 (2013 at constant currency: £28.30 million)
  • StatPro Revolution annualised recurring contract revenue* up 68% to £5.42 million at 31 December 2014 (2013 at constant currency: £3.22 million)
  • Recurring revenue from StatPro Revolution accounted for 18% of Group recurring revenue (2013: 11%)
  • 46% of software clients by value (2013: 37%) now have contracted for StatPro Revolution, marking an inflexion point in the cloud strategy
  • Forward order book of contracted revenue** up 7% to £38.74 million at 31 December 2014 (2013 at constant currency: £36.36 million) of which 25% is StatPro Revolution
  • Dividend increased by 4% to 2.9p (2013: 2.8p)
  • Strategic contract win worth almost €4 million (£3.1 million) with major European asset manager to transition its existing StatPro Seven software to the StatPro Revolution platform; three year contract includes professional services and represents 55% conversion premium****
  • Increased focus on revenue per client; average revenue for StatPro Revolution clients rose 37% to £17.2k p.a. (2013: £12.5k)
  • Good progress on the StatPro Revolution platform development, including launch of AIFMD module
2014 2013 Change Constant currency
Revenue £32.02 million £32.49 million -1% +6%
Annualised recurring contract revenue* £29.39 million £28.72 million +2% +4%
Forward order book of contracted revenue** £38.74 million £36.86 million +5% +7%
Profit before tax £2.37 million £3.11 million -24% -9%
Adjusted EBITDA*** £4.36 million £5.46 million -20% -10%
Earnings per share – basic 2.4p 3.1p -23%
Earnings per share – adjusted*** 2.7p 4.5p -40%
Dividend per share – total for year 2.9p 2.8p +4%

*Annualised recurring contract revenue is the annual value of revenue contractually committed at year end.
**Forward order book of contracted revenue is the total amount of software and professional services revenue that is contractually committed at year end.
***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 (notes 5 and 7).
****Defined as the percentage increase in total recurring revenue for StatPro Revolution compared to total recurring revenue for StatPro Seven from that client.