Gresham Technologies PLC - London-based software and services provider focused on data integrity and control, banking integration, payments and cash management - Expects to report group revenue of GBP49.0 million, up 0.8% from GBP48.6 million in 2022. Also expects Clareti revenue to rise 6.5% to GBP37.8 million from GBP35.5 million, with recurring revenue up 8% at GBP29.6 million. Finishes 2023 with no debt and GBP4.8 million cash, down from GBP6.3 million one year prior. Drop is mainly due to GBP3.8 million final payment in relation to acquisition of Electra Information Systems Inc in 2021. Company "was able to navigate the challenging global macroeconomic conditions affecting the financial services sector" and "report a strong close" to 2023. Starts year with GBP38 million in revenue already under contract.
Chief Executive Officer Ian Manocha comments: "There is good momentum coming into the year with a strong pipeline of opportunities at varying stages of negotiation. This, alongside other growth and cost management initiatives, provides us with a high degree of confidence in delivering further profitable growth in the coming years."
Current stock price: 124.00 pence, up 6.9% on Thursday afternoon
12-month change: down 30%
By Emma Curzon, Alliance News reporter
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Gresham (GHT)