Updates

Statpro

September 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The good-as-could-be-expected interim results sadly didn't stop the shares pulling back with Statpro noting that there has been a lengthening in sales cycle for new software licences. For the six months to 30 June, revenues were up 7% to Â£16.76m and adjusted pretax profit improved 6% to Â£3.36m. Earnings per share were 4.4p, up a smidge from 4.3p. Despite the lengthening sales cycle, it should be remembered that Statpro isn't heavily reliant on new licence sales to meet profit forecasts for two reasons; first, the proportion of sales that is recurring is 93% and second, the group is increasing the percentage of clients receiving its products via its hosted Software as a Service (SaaS) platform, which has grown to 24% of sales fro ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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