Gresham Computing plc (LSE: “GHT”, “Gresham” or the “Group”), the leading software and services company that specialises in providing real-time financial transaction control software, announces its unaudited half year results for the six months ended 30 June 2015.
Highlights are set out below:
- Software revenues up 38% to £4.7m (H1 14: £3.4m)
- CTC Software revenues up 247% to £1.5m (H1 14: £0.4m)
- Adjusted EBITDA* up 26% to £1.1m (H1 14: £0.9m, FY 14: £1.1m)
- Total revenues up 11% to £7.1m (H1 14: £6.4m)
- Profit before tax up 8% to £0.65m (H1 14: £0.60m)
- Cash £4.0m and no debt (31 December 2014: £4.7m and no debt)
- CTC now largest product by software revenue
- Positive CTC traction in U.S. market following investment in 2014
- Confident in strategy and outlook for business
*Adjusted EBITDA refers to earnings before interest, tax, depreciation and amortisation, adjusted for one-off exceptional charges and share-based payments
Ian Manocha, CEO, commented:
“We had a notably strong first half with Group profitability greater than the whole of the last financial year. Our total Software revenues grew by 38%.
CTC, our flagship product, is driving this growth with CTC Software revenues jumping by 247% to become our best selling product. We signed a number of new CTC customers whilst existing customers extended their usage of the platform.
We are trading in line with our expectations with CTC recurring revenue and international pipeline growing steadily. The market demand for sophisticated transaction control and data integrity platforms remains high. We remain confident in our strategy and the outlook for the business.”