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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 Technologies earnings slip as projected revenues get pushed into 2019

By Iain Gilbert

Date: Friday 04 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Software and services outfit Gresham Technologies saw earnings slip in its last trading year as delays in recognising revenue from new projects led to lower than expected licensing fees.
Gresham now expects its adjusted EBITDA to have fallen 83% to 800,000 as a result of an 8% drop in revenues across the group to 20m.

However, an unnamed leading global investment bank selected the firm's Clareti platform to deliver a reconciliations managed service to replace legacy vendor technology and also address new data integrity and control requirements across the bank.

As a result, Gresham's Clareti revenues rose 8% to 11.9m, offsetting some of the 24% drop in non-Clareti sales to 8.1m.

Gresham now expects to start recognising revenue from the delayed projects in early 2019.

Chief executive Ian Manocha said: "We enter 2019 with a stronger Clareti recurring revenue base and a focussed plan to build more predictable subscription-based business.

"The investments that we made during 2018 have positioned us well to capitalise on the opportunity in the market and we remain confident in the profitable growth prospects of the group."

As of 1300 GMT, Gresham shares had slumped 11.76% to 60p.

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