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Intercede profits in line with forecasts

By BFN News | 08:01 AM | Thursday 05 April, 2012

Intercede Group expects full year revenues to be ahead of last time and profits to be in line with forecasts. Cash balances totalled £7.0m at the end of March compared with £6.0m last time. The group's year-end update says: "We continue to invest according to plan to meet emerging market demands in cloud services, cyber-security and mobile device management. "Additionally, Intercede has invested in four new 'identity as a service' opportunities with partners. "Only one of these services has contributed to current year performance but all are likely provide recurring revenues in future periods. "Three of these services are through partners in the US." Chairman and chief executive Richard Parris adds: "Intercede is in a stronger position than a year ago both financially and operationally despite a depressed global economy; and the orders we have received demonstrate that we remain the technology leaders in our sector. "We remain committed to investing in the development of market leading technology to meet demand for identity focused services around the world and in the US in particular. "As we continue to grow our sales infrastructure and support capability, we are increasingly better placed to exploit this growth potential." At 8:01am: (LON:IGP) Intercede Group share price was +2p at 70.5p Story provided by