5th Jul 2022 10:41
Gresham Technologies PLC - London-based software and services company - Reports positive trading in the half ending June 30, with revenue and profitability performing strongly. Company expects to post interim revenue of GBP23.1 million as a result, up 56% against the previous year. Excluding the contribution of Electra Information Systems Inc, which became part of the group in June 2021, revenue is expected to grow 19% year-on-year. This, the company explains, represents a strong improvement on the organic growth rate of 14% achieved a year prior. Adjusted earnings before interest, tax, depreciation, and amortization are anticipated in line with the company's unspecified expectations.
Company enters the second half of the year with record levels of recurring revenue, strong customer retention rates, a continued strong performance of its non-Clareti business. As a result, Gresham Technologies says it is confident in achieving at least market expectations for the full year and of starting 2023 with strong momentum.
Market expectations for 2022 anticipate revenue of GBP42.0 million and adjusted Ebitda of GBP9.2 million. Interim results are due to be published on July 26.
Current stock price: 148.79 pence, up 4.8% in London on Tuesday morning
12-month change: down 5.8%
By Heather Rydings; [email protected]
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