Intercede Group plc Preliminary Results for the Year Ended 31 March 2016

Date: June 7th 2016 | Author: Rik Merrikin | Topic: RNS

To view the Preliminary Results PDF, please click here:  Intercede Preliminary Results Year Ended 31 March 2016

INTERCEDE GROUP plc  (“Intercede”, the “Group” or the “Company”)

Preliminary Results for the Year Ended 31 March 2016

Intercede, the software and service company specialising in identity, credential management and secure mobility, today announces its preliminary results for the year ended 31 March 2016.

Financial Highlights

  • Revenues of £11.0m (2015: £8.8m), an increase of 25%.
  • Operating expenses increased to £12.5m (2015: £10.2m), as a result of continuing investment in infrastructure, technology development and sales capacity.
  • Increase in average number of employees and contractors from 113 to 125 year on year.
  • Operating loss of £1.9m (2015: £1.7m).
  • Loss for the year reduced to £1.0m (2015: loss of £1.3m).
  • Basic loss per share 2.1p (2015: basic loss per share 2.7p).
  • Cash balances remain strong: £5.3m as at 31 March 2016 (31 March 2015: £5.9m)
  • The Group has no debt.

Operational Highlights

  • Enterprise-wide contract with one of the largest US healthcare corporations.
  • Mobile Derived Credential solution sold to a major US Federal Agency.
  • New agreement with a US West Coast bank.
  • Partner Agreement with Citrix and first customer sale secured.
  • Collaboration with Intel to power Intel Authenticate.
  • Establishment of Intercede Labs as an internal incubator for innovation.

Richard Parris, Chairman & Chief Executive of Intercede, said:

I am pleased to report a record year for sales, with revenues exceeding £11m, a 25% increase on the prior period. More than 12 million people around the world now trust high assurance credentials managed by Intercede products and services to secure their workplace, assets and identities.  

It has also been a year of organisational growth and transition as we position ourselves to be a leading enabler of digital trust services and technology for mobile devices and the Internet of Things. We continue to believe this is a large market opportunity for which Intercede has established a strong business and technology platform. Moreover, we see significant potential for growth in the total addressable market. Both of these factors mean the outlook for Intercede is very bright.

 

About Intercede:

Intercede is a software and service company specialising 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 MyID software is an identity and credential management system that enables organisations to create and assign trusted digital identities to employees, citizens and machines and in turn allows secure access to services, facilities, information and networks. MyID adheres to international standards, while remaining simple enough to be deployed onto consumer devices such as smartphones, tablets and other devices in the Internet of Things.

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. The cloud-based service provides a cost-effective and convenient way for developers and corporations to protect their apps and users’ sensitive data.

For more information visit: www.intercede.com

 

ENQUIRIES

Intercede Group plc Tel.      +44 (0)1455 558111
Richard Parris, Chairman & Chief Executive  
Andrew Walker, Finance Director

 

 
finnCap Ltd Tel.      + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance  
Joanna Scott, Corporate Broking

 

 
Bell Pottinger Tel.      +44 (0) 7802 442486
Archie Berens  

 

To view the Preliminary Results PDF, please click here:  

Intercede Preliminary Results Year Ended 31 March 2016

 

 

 


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