UK's Gresham Technologies falls on plan to exit legacy IT business

Gresham Technologies

17/11/2023 08:41

** Shares of software and services provider Gresham
Technologies  GHT.L  down 10.2% at 120.7p - among the top pct
losers across London
    ** GHT to discontinue legacy IT contracting services
business, effective Jan 2024 - co
    ** Adds, barring revenue attributable to discontinued IT
business, there is no other material change to 2024 revenue
outlook
    ** "It has been a difficult year for financial markets, and
customer budgets are expected to remain fairly tight," - CEO Ian
Manocha
    ** It also expects 2023 group revenues and earnings to be in
line with expectations
    ** Shares down ~32% YTD



 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))