The following statement on trading will be made by Gresham's Chairman, Eric Sepkes, at the Company's Annual General Meeting on 4 July 2008:
"I am pleased to report that trading has improved markedly in the first six months of 2008. As a result, we expect to report a significantly improved result for the first six months of 2008 compared to the comparative period.
We are working to continue this trend of improved results into the second half of 2008, delivering against a strong confirmed order book and prospect pipeline within our core real-time financial solutions business.
We have made solid progress with each of our core technologies:
- A further buyer is now live on our supply chain financing platform in Australia and supplier adoption is underway.
- Our cash reporting service is gathering momentum and our bank to corporate cash management solution continues to show good customer and revenue growth.
We continue to focus on core customer facing activities and cost reductions in appropriate areas. The benefit of these actions is now evident in the results both at the revenue and, importantly, the profit line. We are focusing on our core business and it remains our intention to dispose of non-core businesses.
I joined Gresham as Chairman in late April 2008 with a strong belief that the market for real time financial solutions was both tangible and about to take off. Some two months into my appointment, I am pleased to report that Gresham has the technology and the people not just to compete but to be a leader in this real-time market. The discussions I have had with our people, our customers and our target market gives me confidence in both our ability to deliver world class real-time solutions and, importantly, the growing demand for those solutions.
Our business is at an exciting phase in its development and demand is growing despite the current state of flux in world markets; I might argue, because of it. We have more hard work to do and our resolve is to focus on core areas where we can grow revenues, build customer loyalty, develop new solutionions and strengthen our identity as a global operator. I am looking forward to us delivering some truly great solutions to our customers over the next six months and, as a result, an improved trading performance for 2008 and beyond.'