AIM-listed cloud software firm StatPro Group increased its revenues in 2018.
The London firm, which provides portfolio analysis and asset pricing services for the global asset management industry, announced 拢54.7 million group revenues in a statement to the London Stock Exchange.
Revenues in 2017 were 拢49.3m, signalling a rise of 11 per cent.
StatPro Group said adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) was expected to be approximately 拢9m, up 32 per cent on the previous year鈥檚 figure of 拢6.8m.
Justin Wheatley, group CEO at StatPro, said sales in the final quarter were 鈥渞obust鈥�.
鈥淥verall we signed 20 clients in eight different countries for contracts greater than $100k per annum, including seven banner deals in 2018, underscoring the momentum we are building across the industry,鈥� he said.
“Following a period of investment in cloud technology, the rapid changes in the asset management industry and our deepening relationships with asset management service providers, we are strategically well placed for growth.”
The company鈥檚 net debt rose to 拢24.6m from 拢20.2m, which it said reflects its acquisitions and investments in ODDO-BHF, Investor Analytics and Infovest last year.