StatPro pays second interim dividend as FY results set to meet market expectations

StatPro Group (AIM: SOG), provider of portfolio analytics and data software for the asset management industry, has declared a second interim dividend for the full year 2009, paying out 1.3 pence per share to bring the total paid so far for the year to 1.9 pence.

The second dividend will be paid on 24 March 2010, while the final dividend will be announced with the company’s preliminary results on 10 March 2010.

Last month, the company said it expected to be the results for the previous year to be in line with market expectations, delivering strong revenue and profit growth.

In a pre-close trading update, the group said a key focus in 2009 has been the continuing reduction of debt, resulting in net debt of £8.9 million at the end of the period compared with £14.6 million a year earlier.


As forecast at the start of the year, renewal rates reduced from historical levels due to the increase in M&A activity in the asset management industry.

The board also expected the results for the current year to be in line with expectations.

Edison Investment Research responded to January’s trading update by maintaining its revenue growth forecast of 11.6% for 2009 and 4.5% for 2010, translating into normalized pre-tax profits of £6.5 million and £7.5 million, while projecting the debt to fall to £5.4 million at the end of December 2010 from £8.9 million at the end of 2009.  http://www.proactiveinvestors.co.uk/companies/news/12913/statpro-pays-second-interim-dividend-as-fy-results-set-to-meet-market-expectations-12913.html