10th Mar 2020 11:07
(Alliance News) - Gresham Technologies PLC on Tuesday said it swung to profit in 2019 as more clients migrate to its Clareti platform.
The software and services company reported a 30% revenue increase in 2019 to GBP25.0 million, swinging to pretax profit of GBP1.9 million from GBP1.4 million loss a year earlier.
During 2019, the company said it added 15 new clients to its Clareti platform, which delivers data integrity services for capital markets firms.
"During the year, some of the world's largest banks and investment firms put their trust in Clareti as the way forward for the replacement of the industry's legacy cash and stock reconciliation systems. We also made good progress in regulatory and in cash management solutions with further flagship wins," noted Chief Executive Ian Manocha.
Gresham said it continued to invest in sales & marketing resources to accelerate revenue growth and in the Clareti platform to maintain its "competitive advantages".
The company is paying a 0.75 pence a share dividend for the year, up from 0.5p paid the year before.
Looking ahead, Manocha said: "The successes of 2019 illustrate the exceptional opportunity for Clareti technology and our outstanding global team."
Gresham shares were trading 3.7% higher in London on Tuesday at 140.00 pence each.
By Evelina Grecenko; [email protected]
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