For immediate release
15 May 2002
STATPRO GROUP PLC
(“StatPro” or the “Group”)
AGM Statement and Trading Update
At its Annual General Meeting to be held later today, Carl Bacon, Chairman of StatPro Group plc, the leading provider of performance measurement solutions for the global asset management industry, will make the following remarks on the Company’s continued progress:
“I am pleased to report that we have increased the number of contracts by 11 to 136 in the first four months of 2002. This is a satisfactory start to the current financial year given the prevailing weakness in the financial services sector. “We have continued to perform well in the UK, Ireland and South Africa. In Europe, the German market remains difficult but there are some encouraging signs of increased activity. Elsewhere in Europe, we have won new contracts in France, Luxembourg, Sweden and Spain. “We have appointed Mark Bramley, currently Director of Performance Measurement at StatPro, as CEO of our US operations. As we stated at the time of our preliminary results in February, the US market is expected to remain weak in the first half of 2002, but to strengthen in the second half, a view that is borne out by recent economic statistics as well as anecdotal evidence provided by our sales team. “Against the current challenging economic environment, we are continuing to focus on achieving our stated objective of reaching profitability on a month by month basis by the end of the year.”
StatPro intends to announce its interim results for the six months ended 30 June 2002 in early August.
StatPro Group plc
|Justin Wheatley, Chief Executive||020 8410 9876|
|Andrew Fabian, Finance Director|
Weber Shandwick Square Mile
|Reg Hoare/Rachel Taylor/Claudine Cartwright||020 7950 2800|
Notes to Editors:
StatPro Group plc is a leading provider of performance measurement solutions for the global asset management industry. The Group floated on the London Stock Exchange in May 2000 raising ?4.9 million (after expenses).