StatPro (LON:SOG) - FY12 profit comfortably beats
Mar 14th 2013 - Edison Investment Research today published a report on StatPro (SOG.L, LSE:SOG, LON:SOG) entitled "FY12 Profit Comfortably Beats". In summary, the report says:
StatPro has reported FY12 profits that are comfortably ahead of our expectations. Normalised pre-tax profit rose 14% to £5.0m, compared with our forecast of £4.3m, benefiting from reduced churn rates and lower-than-expected costs. Nevertheless, we are maintaining our forecasts, as the group is expected to increase costs to accelerate its transition into a pure Software as a Service (SaaS) business. StatPro remains on target to migrate its traditional software customers to its new cloud services products – Revolution and Revolution Plus – over the next three to five years. In our view, the shares look particularly attractive in light of the recent weakness as the new products are significantly more scalable in a market that looks ideally suited to cloud...
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