Intercede Group PLC Trading Update (5897B)
April 05 2017 - 1:00AM
UK Regulatory
TIDMIGP
RNS Number : 5897B
Intercede Group PLC
05 April 2017
5 April 2017
INTERCEDE GROUP plc
("Intercede", or the "Group")
Trading Update
Intercede announced on 3 March 2017 that the revenue outturn for
the financial year ending 31 March 2017 would be approximately
GBP8.0m, with a further GBP2.0m of new orders in the near term
pipeline. The Group today confirms that three of these contract
orders were received by the end of the trading period. Subject to
the completion of the year end audit, revenues for the year ending
31 March 2017 are expected to be between GBP8.2 - 8.4m.
The new orders include two customer wins that relate to the
deployment of MyID within a US Government Agency and a US
Healthcare group. Intercede continues to work diligently to bring
the remainder of the near term pipeline into reported revenue. It
is confident that this will occur within the first half of the year
to 31 March 2018.
The Group is also pleased to report that gross cash balances for
the year are GBP6.9m. This compares to the GBP6.0m forecast which
it highlighted in the earlier statement.
Further detail will be provided within Intercede's final results
for the year ending 31 March 2017 which are expected to be
published during the week commencing 5 June 2017.
Commenting on the financial close to the year, Richard Parris,
Chairman and CEO of Intercede, said;
"After the uncertainty created by the initial phase of the new
US Administration, we are pleased that business appears to be
returning to normal. Importantly, there is progress in securing the
remainder of our near term pipeline and encouraging signs of demand
within our core markets. Momentum is building and we view the
future with considerable confidence".
Contact
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
Simon Hicks Corporate Finance
Capital Access Group Tel: +44 (0) 20 3763 3400
Scott Fulton Media
Ed Welsby Investors
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. In 2016, Intercede launched RapID, a
secure, easy to implement authentication service for mobile apps
and cloud services to completely eliminate the need for
passwords.
For more information visit: www.intercede.com
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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