|
Gresham Technologies PLC on Tuesday noted revenue growth over the year, emphasising returns from its acquisition of Electra Information Systems Inc.
Gresham Technologies is a London-based software and services for data integrity and control, banking integration, payments and cash management.
Annual revenue and adjusted cash earnings before interest, tax, depreciation and amortisation rose over the year, which Gresham partially attributed to contributions from Electra, bought in June 2021 for $38.6 million.
The company expects 2022 revenue to rise 31% to £48.6 million from £37.0 million in 2021.
For adjusted Ebitda, it anticipates growth of 43% to £10.3 million from £7.2 million.
Meanwhile, Clareti revenue is set to climb 39% to £35.5 million from £25.5 million. Forward looking annualised recurring revenue for Clareti as at December 31 was £28.0 million, up 17% from £24.0 million a year prior. Clareti is Gresham’s cloud-based data integrity platform.
Gresham expects to release its full year results on March 14.
Looking ahead, Chief Executive Officer Ian Manocha said: ‘There was a consistent performance across all product lines and sales regions. Supplementing strong key account growth, we signed 12 new name Clareti clients including several of the world’s largest financial institutions. We now have very good visibility across both Clareti and non-Clareti with over £42 million of 2023 group revenues already under contract. This, alongside other growth initiatives, continues to provide us with good confidence in delivering further profitable growth in the coming years.’
Gresham Technologies shares were 2.1% lower at 176.80 pence each in London on Tuesday afternoon.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
