Gresham Technologies PLC Trading update (4539J)
13 December 2022 - 6:00PM
UK Regulatory
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RNS Number : 4539J
Gresham Technologies PLC
13 December 2022
13 December 2022
Gresham Technologies plc
Trading Update
Further upgrade to FY22 expectations
Gresham Technologies plc (LSE: "GHT", "Gresham", "Group",
"Company"), the leading software and services company that
specialises in providing solutions for data integrity and control,
banking integration, payments and cash management, is pleased to
provide the following trading update for the current financial year
to 31 December 2022.
The Group has continued to perform strongly, with Clareti
recurring revenues performing in line with the strategic growth
plan and Clareti services and the non-Clareti businesses performing
ahead of planned revenues. As a result, the Board now expects
revenues and earnings to be ahead of current expectations, recently
upgraded on the 4 October 2022.
The Board anticipates Group revenues of at least GBP48.0m,
adjusted EBITDA of at least GBP10m, and cash-adjusted EBITDA of at
least GBP4m, all slightly ahead of recently upgraded market
expectations (1) .
Any additional new Clareti sales opportunities which close
before the end of FY22 are expected to contribute towards
forward-looking Annualised Recurring Revenues and further underpin
FY23 Clareti forecasts. The Group also has good visibility over the
non-Clareti business with current levels of revenue expected to
continue into FY23.
(1) The Company believes that current market expectations for
the year ending 31 December 2022 (as upgraded in October 2022) are
revenues of GBP46.0m and adjusted EBITDA of GBP9.6m, with GBP48.2m
and GBP10.6m respectively for the year ending 31 December 2023.
Enquiries
+44 (0) 207 653
Gresham Technologies plc 0200
Ian Manocha / Tom Mullan
Singer Capital Markets (Financial Adviser and +44 (0) 207 496
Broker) 3000
Shaun Dobson / Tom Salvesen / Jen Boorer
+44 (0) 203 405
Alma PR 0205
Josh Royston / Hilary Buchanan / Hannah Campbell
Inside information
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 solutions for data
integrity and control, banking integration, payments and cash
management. 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 and
corporates, all of whom are served locally from offices located in
the UK, Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform is a highly
flexible and scalable platform, available on-site or in the cloud,
designed to address today's most challenging financial control,
risk management, data governance and regulatory compliance
problems. Learn more at www.greshamtech.com.
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END
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