Intercede Group PLC Year End Trading Update (4309U)
April 07 2016 - 1:00AM
UK Regulatory
TIDMIGP
RNS Number : 4309U
Intercede Group PLC
07 April 2016
7 April 2016
Intercede Group plc
("Intercede" or the "Group")
Intercede is a software and service company specialising in
identity, credential management and secure mobility.
Year End Trading Update
Intercede is pleased to confirm that the Group has delivered
growth from its identity and credential management business and has
also continued to make good progress in the significantly higher
growth opportunity that is anticipated in the Cloud-enabled,
application service centric, mobile and Internet of Things
markets.
Revenues for the financial year ended 31 March 2016 are expected
to be approximately GBP11.0m, 25% higher than the previous year's
reported revenues of GBP8.8m. Cash balances of GBP5.3m remain
strong as at 31 March 2016 (31 March 2015: GBP5.9m),
notwithstanding high levels of investment in people and
resources.
This investment has been made to address the higher growth
opportunity described above, and two recent developments provide
further evidence of progress: first, the announcement of a new
Android security platform; and second, enhanced security for the
new Intel Authenticate technology based on Intel's new 6th
generation processors.
In addition, Intercede is also set to launch a self-service
capability for its new secure, easy to implement RapID solution
that enables service providers to quickly deploy strong
authentication to services from mobile apps.
Richard Parris, Intercede Chairman & Chief Executive,
said:
"I am delighted to be able to report record sales for the year
while also seeing increasingly clear signs of interest in the new
technology that is being created by the Group's program of
strategic investment. What is especially exciting is that this
interest is being backed up by real commitment from some of the
largest and best known technology companies in the world, whose
hardware is used by billions of people every day. I remain
confident that our strategy of funding investment in this
opportunity out of revenue derived from an established market
position will generate significant returns for shareholders."
Intercede intends to announce audited financial results for the
year ended 31 March 2016 during the early part of June.
Enquiries
Intercede Group plc Tel. +44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
finnCap Tel. +44 (0)207 220 0500
Stuart Andrews, Corporate Finance
Joanna Scott, Corporate Broking
Pelham Bell Pottinger Tel. +44 (0)7802 442486
Archie Berens
About Intercede
Intercede is a software and service company specializing in
identity, credential management and secure mobility. Its solutions
create a foundation of trust between connected people, devices and
apps and combine expertise with innovation to provide world-class
cybersecurity. Intercede has been delivering solutions to high
profile customers, from the US and UK governments to some of the
world's largest corporations, telecommunications providers and
information technology firms, for over 20 years. Intercede's
product portfolio includes MyID, an identity and credential
management system that assigns trusted digital identities to
employees citizens and machines. In 2015, Intercede launched MyTAM,
enabling trusted applications to be loaded into a mobile device's
Trusted Execution Environment (TEE), providing hardware-level
security for Android apps.
For more information visit: www.intercede.com or follow us on
Twitter: @IntercedeMyID
This information is provided by RNS
The company news service from the London Stock Exchange
END
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