Gresham, the specialist provider of software based solutions that enable customers to achieve real-time financial certainty in transaction and cash management, is pleased to provide the following trading update for the year ended 31 December 2013.
Trading strengthened as expected during the second half of 2013, principally driven by strong growth in CTC revenues. Our financial position remains strong, with cash at the end of January 2014 of £5.6m and no debt.
Since our update on 3 December 2013:
· A major financial derivatives dealer purchased CTC for real-time matching and reconciliation, replacing an established incumbent reconciliations vendor;
· A major bank purchased CTC for real-time intersystems matching and reconciliation;
· CTC user growth through channel partners accelerated confirming new annuity revenues for 2014; and
· We continue to win CTC paid proof-of-concept engagements.
Chris Errington, CEO Gresham, commented:
"We continue to make strong progress with commercializing CTC, adding further high quality customers and building additional market demand. We are confident of further progress in 2014 given CTC's proven market acceptance and a successful expansion of our global sales operation, including a head of marketing and new sales personnel in New York and Singapore."