Trading Update (4580E)
07 April 2011 - 8:00AM
UK Regulatory
TIDMIGP
RNS Number : 4580E
Intercede Group PLC
07 April 2011
7 April 2011
Intercede Group plc
("Intercede")
Trading Update
We are pleased to report continued growth in sales revenues,
profit and cash for the financial year just ended.
Pre audit indications are that the results for the year ended 31
March 2011 are in line with market expectations with revenues
approximately 10% ahead of the previous year's reported revenues of
GBP6.2m and pre tax profits in the region of GBP2.0m (2010:
GBP0.5m).
As a result of this performance, cash balances totalled GBP6.0m
as at 31 March 2011 which compares to GBP4.7m at the same time last
year.
Richard Parris, Intercede Chairman & Chief Executive,
said:
"Intercede has delivered another strong performance, driven by
an increasing demand for products and technologies that enable
customers to achieve enhanced levels of cyber security.
"This growth has been achieved in spite of the cancellation of
the UK National Identity Scheme by the newly elected government,
from which we had previously expected to earn revenues. We have
nevertheless been able to secure new business from other areas - a
testament to the strength of the business.
"We expect to see even stronger revenue growth over the next
12-24 months, fuelled by significant and increasing investment in
new markets and new partners. We are confident that a combination
of enhanced levels of functionality and compliance with more
stringent security standards will protect and expand our industry
leadership."
Intercede expects to announce its full year results for the year
ended 30 March 2011 by mid June 2011.
About Intercede
Intercede is the producer of the MyID Identity and Credential
Management System (IDCMS).
Intercede MyID technology is being used around the world by
large corporations, governments and banks to manage millions of
identities for employees, citizens and customers. Notable
deployments in the US include 14 Federal Agencies, 1.7m smart cards
in support of the US Transportation Worker Identity Credential
program, two major US financial institutions and 310,000 smart
corporate identity badges for Lockheed Martin and another defense
contractor. In Europe and the Middle East, Intercede MyID is being
deployed in support of government identity, health and corporate
employee ID security projects.
Further Information on Intercede MyID
Intercede MyID is the only IDCMS software product that enables
organisations to easily and securely manage the identities of
people and their associated identity credentials within a single,
integrated, workflow driven platform. This includes enabling and
managing: secure registration, biometric capture, application
vetting and approval through to smart card personalisation,
issuance and management.
Intercede MyID was the first electronic personalization product
to achieve compliance with the FIPS-201 standard and is widely
deployed by Federal Agencies, government contractors and other
commercial entities. In particular, it supports the latest
standards applicable for all PIV, PIV-Interoperable and
PIV-Compatible deployments.
It can issue and manage a wide variety of ID's and credential's,
providing customers with a platform that can meet their needs now
and in the future. It is a fully supported commercial off-the-shelf
product that can be quickly deployed for thousands or millions of
users.
For more information visit http://www.intercede.com
###
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558111
Richard Parris, Chairman & Chief
Executive
Andrew Walker, Finance Director
FinnCap Tel. + 44 (0)20 7600 1658
Charles Cunningham
Rose Herbert
Pelham Bell Pottinger Tel. +44 (0)20 7861 3112
Archie Berens
Clare Gilbey
This information is provided by RNS
The company news service from the London Stock Exchange
END
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