2016 Financial Highlights

Financial highlights:

  • Group revenue increased by 24% to £37.55 million (2015: £30.19 million)
  • Group Annualised Recurring Revenue (“ARR”) (2) increased by 18% at constant currency to £39.27 million (2015: £33.36 million (1))
  • Adjusted EBITDA (3) up 26% to £5.10 million (2015: £4.04 million)
  • Goodwill impairment, acquisition, restructuring costs and other one-off adjusting items of £11.38 million (2015: nil) impacted the reported profit and earnings per share
  • Net cash inflow from operating activities before acquisition and restructuring costs increased to £8.91 million (2015: £6.55 million)
  • Adjusted earnings per share up 35% to 3.5p from 2.6p
  • Full year dividend maintained at 2.9 pence per share

Operating highlights:

  • Positive adjusted EBITDA contributions from 2016 acquisitions
  • US-based Investor Analytics (“IA”), leading cloud-based complementary risk solution business, now fully integrated and marketed as Revolution Alpha
  • Majority shareholding (now 72.7%) in South African Infovest Consulting, software business specialising in data warehouse and reporting solutions
  • Successful launch of StatPro Revolution Performance module in September 2016
  • Achieved record value of new contracts for StatPro Revolution adding ARR of £3.78 million (2015: £3.17 million (1)), including two banner deals signed in H1 2016 by large fund administrators
  • StatPro Revolution ARR grew 32% at constant currency excluding acquisitions

(1) At constant currency based on restating the prior year at the closing or average currency rate.(2) Annualised Recurring Revenue is the annual value of revenue contractually committed at year end.  (3) Adjusted EBITDA and adjusted earnings per share are EBITDA and earnings per share after adjustment for amortisation of acquired intangible assets, goodwill impairment, acquisition and restructuring costs, negative goodwill, fair value movement in non-controlling interest put option, movements in contingent consideration and share based payments (notes 5, 6 and 8).

    2016   2015 Change Constant currency (1)
Revenue £37.55 m £30.19 m 24% 16%
Annualised Recurring Revenue (2) £39.27 m £28.70 m 37% 18%
(Loss)/profit before tax £(10.12) m £2.41 m n/a n/a
Adjusted EBITDA (3) £5.10 m £4.04 m 26% 5%
(Loss)/earnings per share – basic (15.4)p 2.4p n/a
                               – adjusted (3) 3.5p 2.6p 35%
Dividend per share – total  for year   2.9p   2.9p