Positive Trading Update

RNS Number : 8208M

Intercede Group PLC

05 February 2009

 



5 FEBRUARY 2009

INTERCEDE GROUP plc

('Intercede' or the 'Company')

Positive Trading Update

Intercede, the producer of the MyID Identity and Credential Management System (IDCMS) software, today announces that, based on unaudited management accounts for the 10 months to January 2009, the Company's  sales revenues are ahead of management expectations having already reached the £4.0m level. 

This represents a 60% increase in sales revenues for the 4 months to January 2009 when compared to the whole of the second half of the previous financial year. It also means that Intercede will achieve full year revenue growth of at least 40%. The Company continues to trade profitably and is generating positive cashflow on a month by month basis. With 2 more months remaining in the current financial year, the full year outcome will be dependent upon the timing of receipt of further orders and the Company's subsequent ability to deliver and recognise revenues in accordance with its accounting policy. 

A further update will be issued in early April 2009, following the end of the Company's financial year.

'Our leadership in the Identity and Credential Market is now starting to translate into increased shareholder value', said Richard Parris, Intercede's Chairman and Chief Executive. 'As highlighted in recent announcements, Intercede continues to build momentum in the industry. We expect this trend to continue through to the end of the current period and beyond.'

About Intercede

Intercede is the producer of the MyID® Identity and Credential Management System (IDCMS). Intercede's MyID is the only IDCMS software product that enables organizations to easily and securely manage the identities of people and their associated identity credentials within a single, integrated, workflow driven platform. This includes enabling and managing: secure registration, biometric capture, application vetting and approval through to smart card personalization, issuance and management.

Intercede's MyID is being used around the world by large corporations, governments and banks to manage millions of identities for employees, citizens and customers. Notable deployments in the US include 10 Federal Agencies, a programme with Lockheed Martin and two major US financial institutions. In Europe and the Middle East, Intercede's MyID is being deployed in support of government identity, health and corporate employee ID security projects.

For more information visit http://www.intercede.com

ENQUIRIES

Intercede Group plc	Tel.    [phone]
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Pelham Public Relations	Tel.    [phone]
Archie Berens
Robert Koh
KBC Peel Hunt	Tel. + 44 (0)20 7418 8900
Richard Kauffer
Daniel Harris

 

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