Gresham Computing Says Trading Strengthened, Confident For 2014

LONDON (Alliance News) - Gresham Computing PLC Tuesday said its trading had strengthened as expected in the second half of 2013, driven by strong growth in revenues for its Clareti transaction control software, and said it's confident for this year after the recent expansion of its international sales operation.

In a trading update, the transaction and cash management software provider said financial position remains strong, with cash of GBP5.6 million at the end of January and no debt.

It said that since its last trading update on December 3, it has sold Clareti to a major financial derivatives dealer and a major bank. User growth through channel partners also acceleratedm and it continued to win paid proof-of-concept engagements.

"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," Chief Executive Chris Errington said in the statement.

Still, Gresham Computing shares were down 1% at 123.81 pence Tuesday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1

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