StatPro has won a significant new contract, worth £2.3m over three years, with a major Australian financial institution. We estimate that the contract will boost the group’s annualised recurring revenue run rate by c 2%. We have previously mentioned the increasing potential for positive earnings surprises, as the group moves to late-stage cloud transition, and this new contract win highlights the potential. Hence, with StatPro’s US-based financial software peers and SaaS com
06 Jun 2016
Significant cloud contract in Australia
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Significant cloud contract in Australia
Statpro Group (SOG:LON) | 0 0 (-0.8%) | Mkt Cap: 159.5m
- Published:
06 Jun 2016 -
Author:
Richard Jeans -
Pages:
3
StatPro has won a significant new contract, worth £2.3m over three years, with a major Australian financial institution. We estimate that the contract will boost the group’s annualised recurring revenue run rate by c 2%. We have previously mentioned the increasing potential for positive earnings surprises, as the group moves to late-stage cloud transition, and this new contract win highlights the potential. Hence, with StatPro’s US-based financial software peers and SaaS com