Information  X 
Enter a valid email address

Gresham Computing (GHT)

  Print      Mail a friend

Friday 02 June, 2000

Gresham Computing

Trading Statement

Gresham Computing PLC
2 June 2000


                  Gresham Computing plc
                            
          Trading Statement & Corporate Update
                            
                            
As  previously stated in the Chairman's statement for the
year   ended  31  October  1999,  the  difficult  trading
conditions  experienced  by  our  businesses  during  the
second half of that year continued into the first quarter
of  the current year.  While there are now early signs of
much  improved market conditions, the poor start  to  the
year,   combined   with   costs   associated   with   the
restructuring  of  the Group which  is  currently  taking
place  mean  that  results for the six months  ending  30
April will show losses slightly greater than those of the
previous  six  months.  It is anticipated, however,  that
the Group will return to month on month profitability  by
the end of the year.

Following the appointment of the new management  team  on
11  April 2000, a strategic review of all of the  Group's
businesses is being implemented.  The central aim of this
review  is  to determine which of the Group's  operations
meet its long-term objectives and which do not.

As  a  result  of this review, Gresham now  has  a  clear
strategy.  The Group owns a portfolio of niche businesses
which  are  now  being  organised  into  clearly  focused
business  streams:  Automated Web  Testing,  Banking  and
Finance  Systems, e-Business Integration, niche  products
and  specialist recruitment.  In addition to the  general
improvement   in  market  conditions,  Gresham   is   now
experiencing  significantly higher  levels  of  enquiries
from existing and new customers in each of these areas.

Gresham  also  currently owns a number of  processes  and
technologies  which  do not fit within  the  chosen  core
activities of the Group in the future and which have  yet
to  be  exploited  to  the full.  It has  therefore  been
decided that each of these assets will be developed to  a
stage  where  divestment can take place at a level  which
maximises shareholder value.

Further  details of the Group's future strategy  will  be
available with the interim results announcement which  is
expected to be published in mid-July.


For further information please contact:-

Andrew  Walton-Green, CEO                      01489 555 500
Gresham Computing plc

Tim Jackaman/Anna Watson                       0207 601 1000
Square Mile Communications