Intercede Group PLC Trading Update (3232J)
April 02 2015 - 6:00AM
UK Regulatory
TIDMIGP
RNS Number : 3232J
Intercede Group PLC
02 April 2015
2 April 2015
INTERCEDE GROUP plc
('Intercede' or 'the Company')
Trading Update
Intercede (AIM: IGP.L) is a leading producer of Identity and
Credential Management software, called MyID, which manages the
secure registration, issuance and life cycle of digital identities
for a wide range of uses.
Intercede is pleased to provide a trading update for the year
ended 31 March 2015. Revenues are expected to be approximately 10%
lower than the prior year with cash balances remaining strong at
GBP5.9 million (2014: GBP7.2m).
As previously announced, this slight reduction in turnover from
the prior year reflects continuing delays in the receipt of
scheduled orders mainly from existing US government customers and
committed European projects. There are also a number of exciting
new customers that have either recently been signed or are
approaching signature that will not make a material contribution
before next year and beyond.
It is reiterated that, while these delays have resulted in a
reduction in FY15 revenues, they do not structurally reduce the
future demand for Intercede products nor do they impact the Group's
strong growth prospects. There are increasingly high levels of
interest in the Group's mobile digital identity technology and
services from global OEMs, governments and major corporations.
Consequently, the Board is even more confident than previously
stated in its business strategy and accordingly is driving forward
with its investment plan.
As in prior years, Intercede intends to announce audited
financial results for the year ended 31 March 2015 during the early
part of June.
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558 111
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 is a software company specializing in identity and
credential management with a global team of experts located in the
US and UK.
Intercede's MyID software enables organizations to create and
use trusted digital identities for employees, citizens and
machines. This allows secure access to services, facilities,
information and networks.
MyID meets the highest government standards yet is simple enough
to be deployed onto consumer devices such as smartphones and
tablets. Critically, MyID provides an easy, convenient and secure
alternative to passwords.
Millions of identities are managed using MyID and Intercede has
provided identity verification and management services to global
customers for more than 20 years. MyID is a
commercial-off-the-shelf software product, designed and developed
to be configurable so it can be embedded as the cornerstone of
cybersecurity infrastructure for governments and corporations.
Customers trusting Intercede for secure digital identity include
the US and UK governments and some of the world's largest
corporations, telecommunications providers and information
technology partners.
For more information visit www.intercede.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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