Gresham Technologies PLC Trading Update (1283K)

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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 [e-mail].

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

 
                             [phone] 
 Gresham Technologies plc     0200 
 Ian Manocha 
 Rob Grubb 
 
                             [phone] 
 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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July 05, 2017 02:00 ET (06:00 GMT)