Last checked at 18 Nov 2013 07:00
18 November 2013
Gresham Computing plc("Gresham" or "the Company" or "the Group")Interim Management StatementPeriod 1 July 2013 to 15 November 2013
Gresham Computing plc, the specialist provider of software based solutions that enable customers to achieve real-time financial certainty in transaction and cash management, reports its Interim Management Statement for the period 1 July 2013 to 15 November 2013.
The Group continues to make strong progress commercializing our exciting new product Clareti Transaction Control (CTC). During the period under review:
· A leading insurance broker purchased CTC to increase the level of automation in the matching and reconciliation of transactions with counter-party insurers;
· We commenced a paid project with a global investment bank for the use of CTC as a matching and reconciliation platform accessible by clients of the bank; and
· The first of the real-time intersystem matching projects associated with the major Tier 1 investment bank contract we announced in June this year went live.
In addition, and as previously announced during the period under review: a leading Tier 1 bank purchased CTC in a global contract worth approximately US$15million over the initial term of 20 years; a London based global fixed income investment manager purchased CTC for real-time matching and reconciliation in their buy-side business and an existing customer expanded its use of CTC to include another project.
Our financial performance and position is on track and we are balancing investment in growth with short term financial objectives.
Our outlook remains strong, with a good mix of new CTC sales opportunities at an advanced stage that we expect to strengthen our growing customer base in the remainder of 2013 and beyond.
Chris Errington, CEO of Gresham, commented:
"We continue to make strong progress commercializing our exciting new product CTC. I am pleased to report growth in CTC customer numbers and remain confident that our customer base will continue to grow for the remainder of 2013 and beyond."
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For further information please contact:
Gresham Computing plcChris Errington, CEORob Grubb, CFO | +44 (0) 20 7653 0200 |
Singer Capital Markets LtdShaun Dobson, Partner and Head of Corporate Finance | +44 (0) 20 3205 7500 |