StatPro Group plc, the AIM listed provider of portfolio analytics and data solutions for the global asset management industry, today announces a half year trading update for the six months ended 30 June 2008.
Further to the trading update announced on 21 May 2008 at the time of the Company's Annual General Meeting, the Board is pleased to report that trading for the first half of 2008 was in line with expectations and ahead of the same period in 2007.
Following the successful integration of Performa (acquired on 20 February 2008), the financial benefits of this acquisition are now being realised and the level of Group debt has reduced since the acquisition.
As a result of the integration of Performa and other initiatives within the Group there will be a one-off exceptional restructuring charge in the interim results of approximately £0.6 million. This restructuring will result in expected annualised benefits in excess of £1.0 million.
Notice of results
The Company expects to report its interim results for the six months ended 30 June 2008 on Monday, 4 August 2008.