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UPDATE 1-StatPro says FY results to meet market view

Tue Jan 20, 2009 2:47am EST

Stocks

   

* Sees solid performance in 2009

* Contracted recurring revenue up 40 pct at 28.4 mln stg

* Renewal rates currently above 94 pct (Adds details)

Jan 20 (Reuters) - Analytics software provider StatPro Group Plc (SOG.L) said on Tuesday it expected full-year results to meet market estimates and that it was confident of a "solid performance" in 2009 with renewal rates currently above 94 percent.

StatPro, which provides software for the asset management industry, said contracted recurring revenue for the year ending Dec. 31 rose 40 percent to 28.4 million pounds ($41.16 million) from a year ago.

Over 70 percent of contracts by value are committed beyond 2009 and the average contract length is 16 months, it said.

StatPro said its rental business model provided for a "significant level of resilience" in difficult markets and very clear revenue visibility, and expected growth in the segment to continue.

Shares of the company closed at 39.5 pence on Monday. ($1=.6900 Pound) (Reporting by Balachander Surianarayanan in Bangalore; Editing by Gopakumar Warrier)



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