LONDON, July 5, 2017 /PRNewswire/ --
Gresham, the leading software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions, is pleased to provide a trading update for the half year to 30 June 2017.
The Group's flagship Clareti Transaction Control (CTC) offering continues to drive growth. Gresham expects to report that, for the six months ended 30 June 2017:
- Group revenues will be up 26% compared to the same period in 2016.
- Total Clareti revenues will be up 52% including the contribution from C24 Technologies Ltd (C24) acquired in October 2016 (35% excluding C24).
- Clareti software revenues will be up 136% (101% excluding C24).
- Adjusted EBITDA will be strongly ahead of the same period in 2016 and remains in line with management expectations for the year.
During first half of 2017, the Group signed eight new CTC clients across various industry segments in the US, Canada, Europe and Asia Pacific. Two clients chose to deploy CTC into the cloud with Clareti-as-a-Service. In addition, there were five Clareti 24 Integration Objects sales and two Clareti Analytics sales in the first six months of the year.
The Group is trading in line with market expectations. Management remains confident in the full year outlook.
Gresham expects to announce its interim results for the six months to 30 June 2017 on 25 July 2017.
Ian Manocha, CEO, commented:
"Clareti licence sales continue to drive the Group forward. We signed eight new Clareti Transaction Control customers in the first half, including three wins in North America. It was particularly pleasing to close several legacy competitor replacement wins alongside new data integrity projects."
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 assuring enterprise data integrity and is designed to address today's most challenging financial control, internal risk management, data governance and regulatory compliance problems. Gresham's portfolio of applications based on the Clareti platform, including Clareti Transaction Control (CTC), Clareti Accounts Receivable Management (Clareti ARM), Clareti Loan Control (CLC) and Clareti 24 Integration Objects (C24 IO), provide innovative industry specific solutions for real-time data management.
Gresham Technologies plc is a leading software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, 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.
SOURCE Gresham Tech