Intercede Group PLC Trading Update (8823N)
04 Oktober 2012 - 8:00AM
UK Regulatory
TIDMIGP
RNS Number : 8823N
Intercede Group PLC
04 October 2012
Intercede Group plc
("Intercede")
Trading Update
We are pleased to report that Intercede is executing its current
year strategy according to plan.
Our existing customers continue to expand their current MyID
installations and new customers have been secured in the European
and US markets. These new customers are expected to contribute to
revenues in the second half of the year. A number of large bid
opportunities are in progress with major corporates and
governments, several of which are expected to yield revenues before
the end of the financial period.
We are continuing to invest in supporting a number of managed
service providers who plan to offer MyID as a Cloud service in
support of their entry into the newly emerging Identity Provider
market place. These activities span the US, UK and European
markets. It is planned that these organizations will start
generating recurring annuity revenues towards the end of the
current financial year and will accelerate thereafter.
Furthermore, we continue to develop innovative mobile identity
solutions and are working with industry majors to ensure we exploit
our market leading position. It is anticipated this will start
generating revenues in the next financial year.
Revenues in the first half of the current financial year will be
in the region of GBP3.5m and cash in the bank at the end of
September was GBP7.2m, underlining the Company's long term
financial strength. This is a creditable performance in markets
which continue to be challenging. We intend to improve on this in
the second half of the year, and the measures we have already put
in place to exploit our market leading technology leave us well
placed to do so.
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558111
Richard Parris, Chairman & Chief
Executive
Andrew Walker, Finance Director
FinnCap Tel. + 44 (0)20 7220 0500
Stuart Andrews/Rose Herbert, Corporate
Finance
Joanna Weaving, Corporate Broking
Pelham Bell Pottinger Tel. +44 (0)20 7861 3112
Archie Berens
About Intercede
Intercede(R) is a security software provider whose MyID(R)
identity management platform enables global organisations and
governments to create trusted digital identities for employees and
citizens on secure devices such as smartcards, smartphones and
tablets. MyID enables the protection of IP, assets, and digital
content, delivering trusted digital identities as the cornerstone
of cyber security strategies for government, defence, financial
services and other industries.
The Company operates in global markets (including the US, Europe
and Middle East) and works with large international partners
including BT, Gemalto, HP, Microsoft, Oberthur, SafeNet, Symantec
and Thales to deliver flexible digital identity solutions that are
interoperable with other existing technologies and which are
tailored to customer needs.
Corporations such as Boeing, Booz Allen Hamilton and Lockheed
Martin, and governments including the USA, UK and Kuwait, trust
Intercede's deep expertise to deliver effective solutions. The
company's technology achievements reflect an investment of 300 plus
man years of development, exemplary speed of deployment and
adherence to international standards including FIPS 201, where MyID
was the first electronic personalization product to obtain GSA
approval. This trust is reflected in Intercede's rate of repeat
business with its customers, which typically runs at 70-80% of
annual revenues.
Intercede has been developing ID management systems since 1992
and MyID is currently deployed by end customers located in 24
countries. The company is headquartered in the UK, listed on the
London Stock Exchange AIM: IGP and ISO 9001 and TickIT
certified.
For more information visit http://www.intercede.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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