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Gresham Technologies sees higher adjusted earnings on increased recurring revenue
StockMarketWire.com
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Software and services Gresham Technologies said it expected to report a rise in annual adjusted earnings thanks to recurring revenue growth that beat market expectations.
For the year ended 31 December 2020, adjusted EBITDA was expected to be least £4.4 million, an 7% increase on the prior year, while revenue fell 2% to £24.6 million.
Clareti annualised recurring revenue was expected to rise 29% to £12.3 million supported by new business wins.
Clareti revenues were flat at £15.5 million, with Clareti recurring software revenues rising 11% to £11.5 million.
In challenging circumstances ... our forward-looking ARR [grew] by almost 30% and closing the year ahead of market expectations,' the company said.
At 8:30am: (LON:GHT) Gresham Technologies PLC share price was 0p at 122p
Story provided by StockMarketWire.com
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