Gresham Computing prospers in wake of Clareti software boom

 
Michael Bow
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GRESHAM Computing, which makes software for investment banks, yesterday said strong sales of flagship product Clareti Transaction Control (CTC) had propelled a jump in revenue.

Total revenues were £7.1m for the half year, up from £6.4m last year, bolstered by group software sales rising 38 per cent.

CTC sales rose 247 per cent alone, accounting for just over a third of total revenues and crowning it the firm’s biggest selling product.

“We are trading in line with our expectations with CTC recurring revenue and international pipeline growing steadily,” said chief executive Ian Manocha.

CTC offers reconciliation processing for banks and other institutions.

Gresham linked up with IT provider FDM Group earlier this year to roll out the software.

FDM’s clients includes the likes of UBS, HSBC, Standard Chartered, Axa Swiftcover and Credit Suisse.