2014 Financial 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
|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.