The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Nice volumes after a reasonable TU.
Ian Manocha, CEO, Richard Last, Chair, Tom Mullan, CFO, Neil Vernon, CTO, Geneva Loader, CMO and Alan Huse, Head of Transaction Banking Product Management, ANZ present an investor briefing, focused on the launch of Floe, the Group’s next-generation smart bank account platform, followed by Q&A.
Watch the video here: https://www.piworld.co.uk/company-videos/gresham-technologies-ght-investor-briefing-introduction-to-floe-october-2023/
Or listen to the podcast here: https://piworld.podbean.com/e/gresham-technologies-ght-investor-briefing-introduction-to-floe-october-2023/
I do think the market has already priced in what was published this morning.
The outlook has a lot of green shoots !
Gresham Technologies (GHT.L, mkt cap: £119m, corporate): Interims - Enviable contracted visibility. H1 organic revenue growth of 5% y/y (cc.), driven by continued positive momentum in Clareti revenues (+11% y/y). 5 new Clareti contract wins alongside 16 upgrades, have all contributed to strong top-line growth, with performance also underpinned by a NRR of 103% (+1pp h/h). Cash adj EBITDA was £1.7m (H1’22: £1.8m), with net cash of £3.8m (H1’22: £6.3m). The key highlight is contracted forward-looking revenue visibility of 95%/FY’23e (at Jun’23), leaving an undemanding c£2m revenue to find in H2. Even given macro turbulence and rapid base rate rises which drove major disruption in HTM bond book values and subsequently across global financial services institutions (GHT’s core market), GHT’s market-leading proposition continues to capture healthy demand and “a strong pipeline of opportunities”. Rapid and accurate reconciliation software becomes even more critical in our view, with cadence of deals having potential to accelerate in H2 onwards (not in forecasts). Looking forward, we model cash EBITDA margins of 15% by FY’25e (FY’22: 9%) driven by GHT guidance for 40%/new ARR dropping through. Couple this with projected 14% sales CAGR to FY’25e and FCF yield moves sharply higher to 5%/7% by FY’24e/FY’25e. That’s compelling.
Don't see much of a growth in today's report, they managed to break even - which is positive of course, but valuation is x3 of what their net profit suggests (especially considering what one-third of it is because of taxation offset).
That's rather a strong sell despite positive results.
Adjusted numbers show a strong growth, even at the bottom line level.
Reported numbers show yoy growth until Net income driven down by a tax charge.
Apply 19% tax rate to last year to do the right comp.
Ocf +ve and growing.
Nothing else than a BUY.
Applied for £5000 through Primary Bid and was scaled back by 25%.
Reasonably annual results a couple of days ago and another contract win for Clareti.
At current prices I am now up a bit, although since my initial buy was in 2017, the annual rate of return is sill a little on the low side (although still beats most savings accounts!).
new Clareti contract announced today...an excellent Xmas present!
The ARR remains unchanged from July and they said it was a key KPI- Havng said that and reading between the lines I think they are expecting further Clareti contracts before the YE>>>I hope so!
Still got a little way to go to hit my break even point, but definitely looking a lot better than it did. I always thought that dive at the start of 2019 was overdone. Hoping the recent Clareti progress continues...
Share price has bounced up today, I wonder if it's only just reacting to the trading update or whether there is other news leaking. Takeover bid perhaps.
GHT share price now at a 12 months high after a trading update showing revenues up 30% and profits up 344% to £4m and with £9.6m of cash and no debt, this company can make more acquisitions or it could itself become a target for a company wanted to get quick access to solid fintech clients, which take a very long time to cultivate.
A great set of results, this puts GHT right back on track
Yet another Clareti contract, although not entirely unexpected....
Gresham Technologies the UK provider of real-time, transaction control and data integrity solutions, has issued a bullish statement from its chairman, in advance of the company’s AGM later today. The announcement highlighted that Gresham has made an excellent start to its new fiscal, buoyed by two Q1 deals with Tier 1 banking institutions (previously announced), for its Clareti software platform (see: Gresham announces £2.3m Tier 1 Clareti win).
Gresham indicated that, over their term, the two recent Clareti bank deals, will account for more than £7m of new software revenue and add £1.4m to annualised recurring revenues. The company has also signed services contracts in respect of these two implementations that are expected to be worth more than £500k, with potential for incremental revenues. Gresham has also signed up three other, new Clareti customers this year, including one Clareti Multi-Bank contract and two Clareti Transaction Control contracts.
The latest announcement is more good news for Gresham, which has bounced back strongly from a dip in its fortunes last year (see: Gresham rebuilding confidence). The transformation occurring across the financial services industry, is gaining pace within capital markets. Institutions are seeking to reduce costs, replace outmoded processes and technologies, and in particular to modernise their approach to data. Gresham’s ambition is to establish Clareti as the platform of choice for reconciliations in capital markets. Notwithstanding the quality of the offering, current references often breed further success, and the sales momentum Gresham is building up should auger well for its future prospects.
On the move at last, lets hope they've learned their lesson...................................
Today's the day........
Tom has just purchased a few more shares also now that the latest bit of good news has filtered down, Clareti strikes again..
Ex DIVI - 4/4/19 0.5p
More to come yet as well..........
....... global Tier 1 bank to replace legacy technology
Gresham Technologies plc (LSE: "GHT", "Gresham" or the "Group"), the leading software and services company that specialises in providing real-time data integrity and control solutions, is pleased to announce that it has signed a significant contract with a global Tier 1 bank.
The financial institution, identified as a Global Systemically Important Bank (G-SIB), is a leading investment bank, asset management and wealth manager, and was one of Gresham's first major Clareti Transaction Control (CTC) customers, having first purchased a CTC licence for intersystem reconciliations and controls in 2013.
Following a competitive evaluation of current market offerings, the institution has selected Gresham's Clareti platform, including CTC, Clareti Adapters and Clareti Analytics, to replace a legacy vendor solution for its global cash and securities processing operations.
The total software fees chargeable under the contract are in excess of CHF 3 million (£2.3 million) over the 5-year term (in addition to the customer's existing Clareti commitments), which is expected to contribute CHF 1.1 million (£0.8 million) to 2019 revenues and add CHF 0.5 million (£0.4 million) to Group annualised recurring revenue.
This contract is one of the two strategic, high-value projects referred to in Gresham's announcement dated 4 January 2019.
Looking good again today, bargain still down here....
Good finish to the day as expected.........
Back in favour after that little shock wave, could double in price quite easily though
Worth a punt as a recovery platly next year...grabbed a grands worth....see what happens.... B