REG - Gresham Technologies - Trading update

Gresham TechnologiesAnnouncement

13/12/2022 07:00

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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 £48.0m, adjusted EBITDA of
at least £10m, and cash-adjusted EBITDA of at least £4m, 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 £46.0m and adjusted EBITDA of £9.6m,
with £48.2m and £10.6m respectively for the year ending 31 December
2023.

Enquiries

 Gresham Technologies plc                               +44 (0) 207 653 0200
 Ian Manocha / Tom Mullan

 Singer Capital Markets (Financial Adviser and Broker)  +44 (0) 207 496 3000
 Shaun Dobson / Tom Salvesen / Jen Boorer

 Alma PR                                                +44 (0) 203 405 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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