Gresham expects record FY results

Gresham Technologies expects record full year results with revenues up by 24% at £21.3m and adjusted EBITDA to be around 32% higher at £5.0m, in line with market forecasts.

The group said total Clareti revenues for the year to the end of December were expected to be up approximately 48% year on year at £11.1 million, with Clareti software revenues increasing by 74%.

The group said closing Clareti annualised recurring revenues were expected to be up 24% at £5.7m.

Chief executive Ian Manocha said: 'We are delighted with these record results stemming from our planned investment into Clareti and the hard work of our global team over a number of years.

'We have firmly established Clareti as the new 'de-facto standard' enterprise-class solution to the industry's endemic data quality problems.

'We will continue to invest in sales and marketing, as well as in partnerships and alliances, to capitalise on the opportunity ahead, and we remain confident in the profitable growth prospects of the Group.'

The group expects to announce its final results for FY 2017 on 13 Mar.