Trading Update

RNS Number : 7935M

Gresham Computing PLC

25 January 2016

 

25 January 2016

Gresham Computing plc

CTC breakthrough drives profitable growth for Group

Gresham Computing plc (LSE: "GHT", "Gresham" or the "Group"), the leading software and services Group that specialises in providing real-time financial transaction control and enterprise data integrity software, provides the following trading update for the year ended 31 December 2015 ("FY 2015").

The Group expects to report revenues for the year up 16% to £14.8 million and Adjusted EBITDA* up 142% to £2.7 million in line with expectations.

Clareti Transaction Control (CTC) software sales were up 212% driving Group total software revenues ahead by 38%. Other non-CTC parts of the Group performed in line with expectations.

Recurring CTC software revenue continued the trend of consistent strong growth, increasing 90% on the previous period.  During FY 2015 the Group signed a number of new clients in US, Europe and Asia Pacific and a number of existing customers increased their investment in the technology.

The Group closed the year with cash at £4.7 million, in line with expectations, and remains debt-free. The financial position is expected to remain strong throughout 2016 and beyond. The Group anticipate the results for FY 2015 will be announced in early March 2016.

Ian Manocha, CEO, commented:

"We are building a leadership position in a new category of enterprise data integrity leveraging our disruptive Clareti technology platform and an expanding applications portfolio for financial control, risk management and regulatory compliance.

Gresham made significant progress in 2015 with 11 new CTC customer wins. In addition, we launched our cloud platform Clareti-as-a-Service, strengthened the global organisation, and made further strategic investments into sales and marketing to sustain the positive momentum into 2016."

* Adjusted EBITDA refers to earnings before interest, tax, depreciation and amortisation, adjusted to add back share-based payment charges and exceptional items.

Enquiries:

Gresham Computing plc

Ian Manocha                                                                                        [phone]

Rob Grubb

N+1 Singer (Broker)

Shaun Dobson                                                                                    [phone]

Lauren Kettle

Note to editors

Gresham's award-winning software platform Clareti Transaction Control (CTC) has been designed to provide financial institutions with complete certainty in their data processing. CTC combines best-in-class performance with future-proofed technology, providing real-time data management based on business-driven controls.  CTC 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 and regulatory compliance problems.

Gresham Computing plc is a leading software and services company that specialises in providing real-time financial transaction control and enterprise data integrity solutions, and is listed on the main market of the London Stock Exchange (GHT.L). With over 30 years' experience 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.

 

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