Intercede Group PLC Contract Wins and AGM Statement (8322O)
25 September 2013 - 8:01AM
UK Regulatory
TIDMIGP
RNS Number : 8322O
Intercede Group PLC
25 September 2013
25 September 2013
Intercede Group plc
("Intercede")
Intercede is a leading provider of identity and credential
management software,
creating trusted digital identities through its proprietary MyID
product.
Contract Wins and AGM Statement
At Intercede's Annual General Meeting, to be held today,
Chairman & Chief Executive Richard Parris will make the
following statement:
"We are pleased to report that Intercede has achieved strong
revenue growth during the first half of the financial year. This is
in line with expectations and reflects continued progress with
existing customers and a number of new contract wins.
In April we reported the award of a major contract in support of
a large scale government security program and in July we announced
contract awards in support of two major telecommunications
customers in North America and Europe. In addition to our core MyID
services, both of the telecommunications customers have also
contracted to use our innovative mobile identity solutions,
justifying our commitment to invest in this important and fast
growing area of the market.
We are also delighted to be able to announce two further new
contract wins. The first of these is with a major European
aerospace and defence contractor which provides further evidence of
Intercede's strength in this sector, and the second is with one of
Europe's largest urban police forces thereby providing an
additional endorsement of Intercede's technology and market
position.
All of these new contracts have already contributed to revenues
in the current period and will continue to do so for the remainder
of the financial year and beyond.
As previously announced, we continue to invest in the
recruitment and training of specialist technical professionals to
ensure we remain scalable in a fast growing market. The size of the
team has grown by more than 10% year on year.
Total revenues in the first half of the current financial year
are currently projected to be in the region of GBP4.5m compared to
GBP3.5m in the previous year. The Company expects to be both
profitable and to report an increase in cash balances to in excess
of GBP7.0m as at 30 September 2013 (31 March 2013: GBP6.8m)."
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, Corporate Finance
Joanna Weaving, Corporate Broking
Bell Pottinger Tel. +44 (0)7802 442486
Archie Berens
About Intercede
Intercede(TM) 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(R) 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 to
deliver flexible digital identity solutions that are interoperable
with other existing technologies and which are tailored to customer
needs.
The world's largest governments, major corporations and mobile
network operators trust Intercede's deep expertise to deliver
effective solutions. The Company's technology achievements reflect
a significant investment in the development of intellectual
property, exemplary speed of deployment and adherence to
international standards including FIPS 201, where MyID(R) was the
first electronic personalisation 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(R) 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 is 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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