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Prices & Quotes - UK Markets - Gresham Technologies (GHT)

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Share Price:
170.50p
Change Today:
0.000p
Market Cap:
142.14m
Sector:
Software & Computer Services

Gresham Computing warns on 2014 earnings

Date: Thursday 09 Oct 2014

LONDON (ShareCast) - Software and services company Gresham Computing saw its shares slump by a third on Thursday after it warned 2014 revenues will be 10-15% lower than current market expectations.
As a result, earnings for the 2014 full year are expected to be "materially" lower than previously anticipated.

The newly revised drop is due to the fact a number of contracts for its matching and reconciliation product, Clareti transaction control (CTC), are now due to come into effect in 2015 instead of in the current year.

At the half-year point, the company reported a 67% rise in CTC revenues to 2m, with total revenues up 10% at constant currency at 6.4m.

The group, which provides real-time financial transaction control software to the global matching and reconciliation market, said it had otherwise continued to make progress in commercialising CTC, which have seen revenues for the nine months to 30 September increase on the comparative period. Other, non-CTC, parts of the business continued to perform in line with plan.

Chief executive Chris Errington said: "We continue to win CTC customers and grow our CTC recurring revenues in line with our strategy. Clearly the delays in signing new contracts are disappointing however, we remain confident that the investments we have made will support further progress in 2015.

"We have a strong pipeline of CTC business and are currently engaged in a number of CTC proof-of-concept engagements, which will enhance our CTC customer base and recurring revenue streams. We continue to see increased use of CTC at existing customers, leading to increased recurring revenues."

Gresham's financial position remained strong and it expects to remain so through 2014 into 2015 and beyond.

Shares had dropped 31.7% to 66.25p by 11:15.

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

 

GHT Market Data

Currency UK Pounds
Price 170.50p
Change Today 0.000p
52 Week High 176.00p
52 Week Low 110.50p
Volume 800
Shares Issued 83.36m
Market Cap 142.14m
Beta 0.07

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GHT Dividends

  Latest Previous
  Final Final
Ex-Div 15-Apr-21 09-Apr-20
Paid 20-May-21 21-May-20
Amount 0.75p 0.75p

Trades for 22-Oct-2021

Time Volume / Share Price
08:51 800 @ 169.30p

GHT Key Personnel

CEO Ian Manocha