StatPro has this morning published its update for the six months to 30 June 2016, with Annualised Recurring Revenues up 26% to £36.2m, with good sales of the flagship Revolution platform and with a strong increase in the contracted forward order book. The ongoing transition to cloud-based recurring revenue continues apace, with material new wins in the period. The group is a beneficiary of recent Sterling weakness, although we believe it too early to increase estimates at this stage. More importantly, the product suite continues to gain material traction and the strategy continues to be vindicated.