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UPDATE 1-StatPro says 4-month trading ahead of its view

Wed May 20, 2009 3:06am EDT

Stocks

   

* Says Jan-April trading significantly ahead of last yr

* Says has strong pipeline of new sales

* Shares indicated up 1.6 pct (Adds details)

May 20 (Reuters) - Analytics software provider StatPro Group Plc (SOG.L) said on Wednesday trading for the first four months was slightly ahead of its expectations and significantly above the year-ago period, helped by new contracts and restructuring.

StatPro, which provides software to the asset management industry, said it had a strong pipeline of new sales and that it could continue to grow at its current rate.

"The action we took last year to reorganise our business has already yielded considerable benefits and we are increasing our capacity to sell in both North America and Europe," Chairman Carl Bacon said in a statement.

The company, which generates 80 percent of its revenue outside the UK, said the refinancing announced earlier this year and the continued operating cash generation had led to a further strengthening of the balance sheet.

StatPro shares were indicated up 1.6 percent at 62 pence at 0704 GMT. (Reporting by Balachander Surianarayanan in Bangalore; Editing by Gopakumar Warrier)



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