News Column

Gresham Computing Profit Dips On CTC Investment; Confident In Outlook

August 11, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Gresham Computing PLC Monday reported flat revenue and a slightly lower pretax profit for the first-half of its financial year, as the company upped investment in its flagship financial transaction technology platform to drive future revenue in the business.

The software company posted a pretax profit of GBP0.6 million for the six months to June 30, compared with GBP0.7 million in the first-half of 2013, as the company invested more on driving Clareti Transaction Control revenue growth, its flagship product software.

Despite strong revenue growth from CTC, revenue in the period was flat at GBP6.4 million, partly due to lower revenue from Real-Time Finance Solutions, it said.

Gresham Computing said it remains confident about its trading outlook, driven by growth in CTC from a combination of existing and new CTC customer growth.

"We have achieved strong growth in CTC revenues during the period and we are confident of making further progress for the remainder of 2014 and beyond, again driven by CTC," said Chief Executive Chris Errington in a statement.

Gresham Computing shares were trading 3.2% higher before midday Monday, at 118.00 pence.

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Source: Alliance News

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