8th Mar 2016 11:17
LONDON (Alliance News) - Gresham Computing PLC on Tuesday reported a more than tripling of pretax profit for 2015, as its Clareti Transaction Control software platform continued to gain traction.
The company reported a pretax profit of GBP1.6 million, up from GBP456,000 in 2014, as revenue rose to GBP14.8 million from GBP12.8 million.
Revenue growth was driven by a 51% rise in revenue from Clareti, also making the financial transaction software the company's highest revenue generating product. Gresham Computing won 11 new customers for the software in the UK, continental Europe, the US and Singapore. It has won further new customers for the product in the first quarter of 2016, and has secured a new services order from an existing UK bank customer, it said.
Gresham Computing last year got court approval to make changes to its capital structure in order to be able to pay dividends when it considers it appropriate. The company reiterated its commitment to commencing a progressive dividend policy, but said its priority remains on reinvesting cash generated in 2016. It intends to review this position and will consider declaring a maiden dividend in 2017.
"Gresham made significant progress in 2015. High quality new customer wins helped drive CTC licence revenue up 212% and contribute to improving margins. We extended our portfolio of innovative products, launched our cloud platform Clareti-as-a-Service, and strengthened the global organisation to sustain the positive momentum into 2016," said Chief Executive Officer Ian Manocha in a statement.
Shares in Gresham Computing were up 1.4% at 100.87 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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