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Wednesday 21 July 2021

Gresham interims confirm a strong start

Gresham Financial services data integrity specialist, Gresham Technologies, has published interim results highlighting healthy organic revenue growth and strong sales momentum, coupled with a small pre-tax loss.

Confirming its recent guidance (see: Gresham reveals strong growth) revenue for the six months to 30 June 2021 was up 14% on last fiscal to £14.5m, excluding the impact of recent acquisitions Inforalgo and Electra Information Systems (see: Gresham announces $27m US acquisition). Meanwhile, Gresham slipped to a pre-tax loss of £800k, compared to a profit of £500k in H1 2020.

H1 revenue from Gresham’s flagship software, Clareti, climbed 22% to £9.6m whilst Annualised Recurring Revenue (ARR) from the system rose by 9% to £12.9m, despite performance being held back by an unfavourable exchange rate. The vendor signed 13 Clareti licence agreements during the first half of 2021, including 3 new European banks and one of the World's largest professional services firms.

Gresham appears to be continuing to prosper in the face of growing demand for its data solutions. Future prospects also seem encouraging, with the addition of the Electra set to boost opportunities in the US in particular.

Posted by: Jon C Davies at 09:01

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