Gresham trading inline with expectations
05 July 2017 | 6307 views | 0
Source: Gresham Computing
Gresham, 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.
During 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.
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.”