Half Yearly Report

Gresham, the specialist provider of real-time financial solutions, reports its half-yearly results for the 6 months ended 30 June 2010.

Revenues, profits and the financial position of the Company at 30 June 2010 are all ahead of the Board’s expectations and significantly improved on the prior period.

Highlights for the 6 months ended 30 June 2010 are set out below:

• Sales ahead of management expectations at £4.3m (2009: £5.6m)
  • Planned year on year reduction from restructuring / disposals in 2009
• All profit lines significantly improved
  • Adjusted EBITDA £0.2m profit (2009: £0.4m loss)
  • Profit before tax £0.1m (2009: £1.0m loss)
• Adjusted EBITDA loss was £0.36m (H1 2008: profit £0.04m);
• Cash at 30 June 2010 £1.9m (31 December 2009: £0.7m)
• Improved results expected to continue through second half

Chris Errington, CEO of Gresham, commented:

“Trading for the first half was ahead of our expectations and the improved results have so far continued into the third quarter. Our key measure of performance is Adjusted EBITDA and I am pleased to report a significant improvement on the comparative period, as well as improvements across each of the other profit measures.

These results present the first real financial picture of Gresham since the late 2009 restructuring and demonstrate the progress made so far as we transition the business through stability into improved trading and onward into growth.”

TRADING REVIEW

Gresham Computing plc is a specialist provider of real-time financial solutions. Our strategy is to grow annuity revenues from ………….

Click here to view the Half Yearly Report RNS in full>>

For further information, please contact:

Gresham Computing plc +44 (0) 20 7653 0200
Chris Errington, CEO

Singer Capital Markets Ltd +44 (0) 20 3205 7500
Shaun Dobson, Partner and Joint Head of Corporate Finance
James Maxwell, Director of Corporate Finance