Last checked at 10 Oct 2018 07:00
10 October 2018
Gresham Technologies plc
Trading update
Gresham Technologies plc (LSE: "GHT", "Gresham", "Company" or the "Group"), the leading software and services company that specialises in providing real-time data integrity and control solutions, is pleased to provide the following trading update.
The Company continues to see strong demand in the market for data integrity and control solutions and has so far signed five new Clareti customers in the second half of 2018, including three in the important US market. In addition, a number of existing Clareti customers have upgraded their subscriptions. The Company has also entered into a strategic fintech partnership with a major bank in Asia Pacific that has significant growth potential, as announced on 26 September 2018.
The integration of the B2 Group is now materially complete. The newly formed Cash Management Solutions business is performing at the expected levels and has signed two new customer subscriptions for Clareti Multi Bank and one upgrade since completion of the acquisition on 4 July 2018.
The Group's legacy business continues to perform as planned and the Group now has full visibility of all 2018 expected non-Clareti revenues. In particular, the Group's Australian sub-contracting business has signed contracts to deliver a minimum AUD $9M of services over a twelve-month period commencing October 2018.
Clareti revenues for the 9 months ending 30 September 2018 are 16% ahead of the comparative period last year (excluding B2 Group) and the Company continues to invest in product innovation and business development. As noted at the time of the interim results, the ability to convert the pipeline of opportunities that the Board expected to conclude in the second half of 2018 is key. The Company is actively engaged on a number of well advanced Clareti opportunities that are expected to contribute to the current financial year, and management therefore remains confident in the full year outlook.
Enquiries
Gresham Technologies plc | +44 (0) 207 653 0200 |
Ian Manocha | |
Tom Mullan | |
N+1 Singer (Joint Broker) | +44 (0) 207 496 3000 |
Shaun Dobson | |
Lauren Kettle | |
Cantor Fitzgerald Europe (Joint Broker) | +44 (0) 207 894 7000 |
Marc Milmo | |
Catherine Leftley | |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
Note to editors
Gresham Technologies plc is a leading software and services company that specialises in providing real-time data integrity and control solutions. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, its customers include some of the world's largest financial institutions, all of whom are served locally from offices located in Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform has been designed to provide financial institutions with complete certainty in their data processing. Clareti is a highly flexible and fully scalable platform for ensuring the integrity of data across an enterprise. It is designed to address today's most challenging financial control, risk management, data governance and regulatory compliance problems.