Gresham Technologies (GHT)

Sector:

IT Services

Index:

techMARK

159.00p
   
  • Change Today:
      0.50p
  • 52 Week High: 183.00
  • 52 Week Low: 136.00
  • Currency: UK Pounds
  • Shares Issued: 83.45m
  • Volume: 306
  • Market Cap: £132.68m
  • RiskGrade: 80

Gresham Technologies flags solid results in trading update

By Josh White

Date: Monday 06 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Software and services company Gresham Technologies updated the market on its trading for the year ended 31 December on Monday, reporting that it expected group revenues for the year to rise 30% to £25m.
The London-listed firm said total revenues from its 'Clareti' operation were forecast to be up 30% to £15.3m, with Clareti software revenues set to improve 39% to £11m.

It said other non-Clareti revenues also performed strongly, and were tipped to grow 29% to £9.7m.

Gresham said it expected group adjusted EBITDA to be ahead 344% at £4m, and added that it closed the year with cash at £9.6m, and remained debt-free.

As it noted in its update on 23 December, Gresham saw "strong trading" in the second half, with six new Clareti licences sold, including a strategic contract win in the United States for one of "the world's largest" alternative investment management firms to replace its legacy vendor transaction lifecycle management solution with Clareti Transaction Control.

Additionally, during December, contractual terms were finalised with an unnamed tier 1 global bank for an enterprise scale deployment of Clareti Transaction Control.

That contract was likely to be executed in early 2020, the board said, and was expected to underpin the existing plans and expectations for Clareti software revenues in the financial year.

The group said it remained confident in the opportunity for its Clareti technology across all target markets of data integrity and control, regulatory data quality, and banking integration and cash management.

"The group made significant progress in 2019 with three major legacy reconciliation vendor replacement agreements and multiple new Clareti client wins across our target markets," said chief executive officer Ian Manocha.

"It is pleasing to see a much stronger underlying recurring revenue base and good momentum in the business as we head into the forthcoming year.

"We will continue to invest in technology innovation and in building routes to market and we are confident in our plan to secure market leadership in the provision of data integrity solutions to the global financial services community."

Gresham said it expected its audited results for the 2019 financial year to be announced on 10 March.

At 0935 GMT, shares in Gresham Technologies were up 3.67% at 127p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GHT Market Data

Currency UK Pounds
Share Price 159.00p
Change Today 0.50p
% Change 0.32 %
52 Week High 183.00
52 Week Low 136.00
Volume 306
Shares Issued 83.45m
Market Cap £132.68m
RiskGrade 80

GHT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.41% below the market average96.41% below the market average96.41% below the market average96.41% below the market average96.41% below the market average
63.27% below the sector average63.27% below the sector average63.27% below the sector average63.27% below the sector average63.27% below the sector average
Price Trend
44.65% above the market average44.65% above the market average44.65% above the market average44.65% above the market average44.65% above the market average
40.19% above the sector average40.19% above the sector average40.19% above the sector average40.19% above the sector average40.19% above the sector average
Income
95.82% below the market average95.82% below the market average95.82% below the market average95.82% below the market average95.82% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Growth
63.31% above the market average63.31% above the market average63.31% above the market average63.31% above the market average63.31% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GHT Dividends

  Latest Previous
  Final Final
Ex-Div 21-Apr-22 15-Apr-21
Paid 19-May-22 20-May-21
Amount 0.75p 0.75p

Trades for 25-Nov-2022

Time Volume / Share Price
15:37 26 @ 159.56p
10:12 80 @ 158.24p
08:01 200 @ 157.36p

GHT Key Personnel

CEO Ian Manocha

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