The company announced its trading update for the nine months ended 30 September 2018. The company anticipates the Infovest division to contribute positively to its profits and make steady progress, aided by the recent contract win with a large South African financial institution.
For the 12 months ended 30 September 2018, the group annualised recurring revenue (ARR) grew 3% to £54.8m, against £53.1m in 2017 at a constant currency basis. Underlying ARR growth for StatPro Revolution, excluding the impact of acquired revenue and including conversions from StatPro Seven, was 16%.
Justin Wheatley, SOG’s Chief Executive, commented ”The increase in functionality for Delta and the updated roadmap for its integration with Revolution is a key milestone and importantly, it removes a decision point for clients of Delta – they have warmly welcomed this development. As Revolution matures we continue to expect to see investment plateauing and an increase in our margins.”