Introduction
Carl Bacon, StatPro, Chairman
As Chairman I’m long overdue making a contribution to StatPro’s
newsletter, the timing of this issue after the interim results
affords me the opportunity to update you on the company’s financial
performance.
In the first half of 2010 StatPro again made
substantial progress increasing revenue by 7% to £16.63 million and
increasing adjusted profits before tax by 6% to £3.36 million. The
annualised recurring contract value is now £27.85million.
An impressive increase in cash generated from
operations of £4.80 million facilitated the reduction in net debt
to £6.31 million from £8.89million, the payment of an increased
dividend, share buybacks and most importantly increased investment
in our products.
We continue to invest significantly in StatPro
Seven, StatPro Unlimited and StatPro Revolution. StatPro Revolution
which will link into StatPro Seven was made available for
public beta on 21 July 2010 and effectively ties together the
front and middle office. I invite you to sign up for a free
trial.
The 2010 edition of GIPS has been published
for some time and takes effect 1 January 2011 – are you ready? The
CFA Institute’s Annual GIPS Standards Conference will take
place in San Francisco 29 _ 30 September; I will attend
together with several fellow members of the GIPS Executive
Committee and hope to meet many of you there for further updates on
the status of the Standards.
Many of you will know that I’ve enjoyed
conducting performance measurement training courses worldwide for
over 10 years; in fact over 3600 people (some more than once) have
attended the nearly 300 courses I’ve run in 45 different cities.
For those of you not able to join my courses in person I’ve
recorded a number of videos on key subjects, including basic
performance, risk-adjusted performance measurement, advanced
attribution and GIPS which StatPro will make available for sale in
the next few months.
Kind regards,
Carl Bacon
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