Highlights
| 2012 |
2011 |
Change | ||
|---|---|---|---|---|
| Revenue | £32.00 million | £31.72 million | +1% | |
| Profit before tax | £3.78 million | £3.86 million | -2% | |
| Adjusted EBITDA* | £6.73 million | £6.12 million | +10% | |
| Annualised recurring contract revenue (constant currency) ** | £29.52 million | £28.45 million | +4% | |
| Contract renewal rates | 93% | 92% | ||
| Cash flow from operating activities (before exceptional items) | £10.18 million | £10.37 million | -2% | |
| Net cash/(net debt) | £3.67 million | (£3.40) million | ||
| Earnings per share - basic | 4.3p | 4.8p | -10% | |
| - adjusted* | 5.9p | 5.7p | +4% | |
| Dividend per share – total for year | 2.7p | 2.6p | +4% | |
Highlights:
- Good progress made in transitioning from traditional software to cloud-based software business
- StatPro Revolution annualised recurring revenue more than trebled to £1.51 million at 31 December 2012 (2011: £0.45 million**)
- StatPro Revolution customer number increased to 156 at year end (2011: 50)
- StatPro Revolution now has 21 fund administrator partners (2011: 10), a key target market for the service, including 6 of the major operators (2011: 1)
- Successful Placing completed in November 2012 raising £5.81 million (net of expenses)
* Adjusted EBITDA and adjusted earnings per share are EBITDA and earnings per share after adjustment for amortisation of acquired intangibles, share based payments and exceptional items.
** Annualised recurring contract revenue is annual value of revenue contractually committed at year end. Comparative is at constant currency.
