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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) Dow Jones Newswires

December 13, 2022 02:00 ET (07:00 GMT)

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