AIM-listed cloud software firm StatPro Group increased its revenues in 2018.

The London firm, which provides portfolio analysis and asset pricing services for the global asset management industry, announced £54.7 million group revenues in a statement to the London Stock Exchange.

Revenues in 2017 were £49.3m, signalling a rise of 11 per cent.

StatPro Group said adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) was expected to be approximately £9m, up 32 per cent on the previous year’s figure of £6.8m.

Justin Wheatley, group CEO at StatPro, said sales in the final quarter were “robust”.

“Overall we signed 20 clients in eight different countries for contracts greater than $100k per annum, including seven banner deals in 2018, underscoring the momentum we are building across the industry,” he said.

"Following a period of investment in cloud technology, the rapid changes in the asset management industry and our deepening relationships with asset management service providers, we are strategically well placed for growth."

The company’s net debt rose to £24.6m from £20.2m, which it said reflects its acquisitions and investments in ODDO-BHF, Investor Analytics and Infovest last year.

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