Gresham Technologies PLC Trading Update (1283K)
July 05 2017 - 2:00AM
UK Regulatory
TIDMGHT
RNS Number : 1283K
Gresham Technologies PLC
05 July 2017
5 July 2017
Gresham Technologies plc
Eight new CTC contracts in first half, trading in line
Gresham Technologies plc (LSE: "GHT", "Gresham" or the "Group"),
the leading software and services company that specialises in
providing real-time transaction control and enterprise data
integrity solutions, is pleased to provide a trading update for the
half year to 30 June 2017.
The Group's flagship Clareti Transaction Control (CTC) offering
continues to drive growth. Gresham expects to report that, for the
six months ended 30 June 2017:
-- Group revenues will be up 26% compared to the same period in 2016.
-- Total Clareti revenues will be up 52% including the
contribution from C24 Technologies Ltd ("C24") acquired in October
2016 (35% excluding C24).
-- Clareti software revenues will be up 136% (101% excluding C24).
-- Adjusted EBITDA will be strongly ahead of the same period in
2016 and remains in line with management expectations for the
year.
Net cash at 30 June 2017 was GBP7.7m (30 June 2016: GBP3.9m)
including a material one-off working capital difference (GBP1.7m),
term deposits (GBP0.6m) and the expected deferred consideration
payable in October 2017 and April 2018 for the acquisition of C24
(up to GBP1.1m).
During the first half of 2017, the Group signed eight new CTC
clients across various industry segments in the US, Canada, Europe
and Asia Pacific. Two clients chose to deploy CTC into the cloud
with Clareti-as-a-Service. In addition, there were five Clareti 24
Integration Objects sales and two Clareti Analytics sales in the
first six months of the year.
The Group is trading in line with market expectations.
Management remains confident in the full year outlook.
Gresham expects to announce its interim results for the six
months to 30 June 2017 on 25 July 2017. There will be a
presentation to analysts on the morning of the results. A copy of
the presentation will be made available on the Company's website at
9.00 a.m. on the day. There will also be a presentation for private
and retail investors on 26 July 2017. For further information, and
to register attendance, please contact Gresham on
investorrelations@greshamtech.com.
Ian Manocha, CEO, commented:
"Clareti licence sales continue to drive the Group forward. We
signed eight new Clareti Transaction Control customers in the first
half, including three wins in North America. It was particularly
pleasing to close several legacy competitor replacement wins
alongside new data integrity projects.
The Group's ongoing commitment to innovation and rapid customer
success, and our focussed direct sales channel, is reaping rewards.
We enter the second half with a clear plan and good momentum."
Enquiries
+44 (0) 207 653
Gresham Technologies plc 0200
Ian Manocha
Rob Grubb
+44 (0) 207 496
N+1 Singer (Broker) 3000
Shaun Dobson
Lauren Kettle
Note to editors
Gresham's award-winning Clareti software platform has been
designed to provide financial institutions with complete certainty
in their data processing. Clareti is a highly flexible and fully
scalable platform for assuring enterprise data integrity and is
designed to address today's most challenging financial control,
internal risk management, data governance and regulatory compliance
problems. Gresham's portfolio of applications based on the Clareti
platform, including Clareti Transaction Control (CTC), Clareti
Accounts Receivable Management (Clareti ARM), Clareti Loan Control
(CLC) and Clareti 24 Integration Objects (C24 IO), provide
innovative industry specific solutions for real-time data
management.
Gresham Technologies plc is a leading software and services
company that specialises in providing real-time transaction control
and enterprise data integrity solutions. Listed on the main market
of the London Stock Exchange (GHT.L) and headquartered in the City
of London, customers include some of the world's largest financial
institutions, all of whom are served locally from offices located
in Europe, North America and Asia Pacific.
This information is provided by RNS
The company news service from the London Stock Exchange
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