It’s really quite amazing. Just a couple of years ago we had virtually written off veteran financial services software and IT services firm, Gresham (see Gresham – still loss-making) and did not expect it to see out a 36th year in business.
And then a miracle occurred, since which Gresham has undergone a Lazarus-like resurrection. And so we are delighted to see that Gresham’s headline growth in Q3 has accelerated to £3.1m, up 40% yoy (H1: 27% - see Gresham on the up), with pre-tax profits three times higher yoy, at £0.3m. Much has to do with its Real-Time Financial Solutions product.
Gresham’s shares are over 80% higher so far this year, though at some £30m market cap, it is one of the smallest of the UK SITS stocks listed on London’s main market. Anyway, CEO Chris Errington seems ‘confident’ on the outlook for the FY and indeed beyond. Miracles can indeed happen.