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Interim Results

Gresham adjusted earnings up 46%

25 July 2017 08:14

Gresham Technologies' group revenues rose by 26% to £9.87m in the six months to the end of June with adjusted EBITDA up 46% to £2.15m.

Revenues excluding the contribution from C24 Technologies which was acquired in October 2016 were up 19%.

The group said Clareti revenues rose 53% to £4.83m (H1 16: £3.16m) and up 36% excluding C24.

Clareti software revenues were up 138% to £3.72m (H1 16: £1.56m); up 103% excluding C24, and Clareti annualised recurring revenues rose by 123% to £5.41m (H1 16: £2.43m); up 74% excluding C24.

Chief executive Ian Manocha said: "In the first six months of the year Clareti licence sales grew by over 100%.

"We added another eight new CTC customers and doubled our Clareti recurring revenue.

"There's strong demand for disruptive data solutions in global financial markets and Gresham is very well placed to capitalise on this as we enter the second half of the year."

At 8:14am: (LON:GHT) Gresham Computing PLC share price was +6.5p at 183.5p

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