Gresham Computing delivers rise in revenue and profits

Gresham Computing, which provides software solutions to financial institutions, has reported a rise in both revenue and profit and told investors it is feeling confident in its outlook.

Gresham Computing, which provides software solutions to financial institutions, has reported a rise in both revenue and profit and told investors it is feeling confident in its outlook.

In the period between July 1st and November 6th, revenue rose 6% from £8.5m to £8.9m, with annuity income up 15% over the same period, while pre-tax profit leapt 19% to £1.1m (2011: £0.9m).

In a statement the company said: "We continue to make good progress in our core Real-time Financial Solutions (RTFS) business with revenues from our bank partner-led cash and transaction management solutions remaining strong.

"In line with our strategy to achieve profitable revenue growth, we continued a planned reduction in those RTFS revenues that fall outside of the core cash and transaction focus; leading to an overall revenue reduction for Q3 2012 of 6% but delivering higher profitability and annuity revenues in Q3 2012 compared to Q3 2011.

"Our investment in the CTC technology is on plan and we are making good sales progress across bank and non-bank markets, which have long and short sales cycles respectively. We are currently scoping the implementation of CTC with a number of customers for deployment in Q4 2012."

The group also stressed that its financial position, confirmed order book and pipeline remain strong and said it feels confident in its outlook for 2012 and beyond.

Shares in the company are up 21.50% over the past year, equal to 11.50p.

NR

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
5 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

House prices could fall 30%. Should investors be worried about a repeat of 2008?
Investments

House prices could fall 30%. Should investors be worried about a repeat of 2008?

Some analysts are predicting that house prices could fall as much as 30%, which, when compared to the fact that prices have jumped 28% since April 201…
24 Jan 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
27 Jan 2023
Council tax increases 2023 – how much more will you pay?
Tax

Council tax increases 2023 – how much more will you pay?

Your council tax bill will go up in April - we reveal the councils that have confirmed what this year’s increase will be.
23 Jan 2023