Investors
Annual Information Update
GRESHAM RIDES THE CREDIT CRUNCH WAVE REPORTING STRONG GROWTH AND A RETURN TO PROFIT
Gresham, the specialist provider of real-time financial solutions and storage solutions, today announces un-audited interim results for the six months ended 30 June 2008.
Highlights
Adjusted EBITDA profit of £0.03m (£1.28m loss H1 2007)
Real Time Financial Solutions Revenues up 24%
Eric Sepkes, Chairman of Gresham, commented:
"I am very pleased to report a much improved first six months of 2008 arising from significant growth in our core business and tight cost control.
I believe that the credit crunch is a contributory factor to our success, forcing a re-think on how to achieve more with less. The financial services technology market is seeing very large projects (£100m plus) being slimmed down or deferred. Conversely, there appears to now be a greater emphasis on smaller, customer focused projects that can demonstrate rapid results in a short timescale. Our proven technology, rapid deployment and agile solutions enable our customers to reap measurable returns on their expenditure in the same financial period as the decision. As a result, we are experiencing strong demand, especially in the financial services market. We have a firm pipeline of work for the second half and a growing list of new opportunities which play to our core strengths."
Click here to view the Interim Results RNS in full>>
For further information, please contact:
Gresham Computing plc
Andrew Walton-Green +44 (0)20 7653 022
Eric Sepkes +44 (0)20 7653 0228