StatPro’s interim results for the six months to the end of June 2016 are in line with the recent trading update and continue to show success in securing ongoing growth of cloud-based recurring revenue. A combination of good underlying growth, currency and the impact of acquisitions have produced positive H1 numbers. Recent contracts have provided vindication of the strategy as the product suite gains material traction. The benefits of introducing a minimum relationship fee for new Revolution clients can be seen in the strong growth of the number of clients in the higher annualised revenue bands. The interim dividend is maintained at 0.85p. For the moment, we leave estimates unchanged despite the strong first half performance as we await more clarity on the ramifications of the Brexit vote and the sustainability of currency movements.