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Gresham Computing losses in line; CWRTN gathers momentum

31 January 2006  |  1422 views  |  0 Source: Gresham Computing

Period-end trading update Gresham Computing plc provides the following update to progress in respect of the year ended 31 December 2005.

We expect to report a full year pre tax loss broadly in line with market expectations, with full year sales and cash at 31 December 2005 ahead of expectations. Our cash position has also improved significantly in the first month of 2006.

Cable & Wireless RTN (CWRTN)
2005 has seen the CWRTN service gather momentum as global banks begin to address the use of real time information in their businesses.

In order to maximise the value of the service to users, Gresham and Cable & Wireless have been working with the banking community to expand the amount of data accessible over the service.

During 2005, the number of provider banks has grown from 10 to 18, which includes 7 of the top 20 banks in the world. The majority of these banks are now live as providers of data to the service.

Since our last announcement on CWRTN in September, we have seen two new subscribers to the RTN browser service, including a top 10 world bank. A further top 10 bank has also agreed to take the RTN direct service. There are currently in excess of 20 banks in trial phase for the RTN browser service and several major banks are evaluating the RTN direct service.

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