Interim results for the six months ended 30 September 2013

Date: November 21st 2013 | Author: Rik Merrikin | Topic: RNS

Intercede (AIM: IGP) is a leading producer of Identity and Credential Management software, called MyID, which manages the secure registration, issuance and life cycle of digital identities for a wide range of uses.

SUMMARY

  • Sales increased by 32% to £4,614,000 (H1 2012: £3,508,000): the highest six month sales period to date.
  • Return to profitability: profit before tax of £256,000 (H1 2012: loss before tax of £185,000).
  • Basic and fully diluted earnings per share of 1.3p (H1 2012: loss per share of 0.2p).
  • Cash balances of £7,429,000 as at 30 September 2013 (30 September 2012: £7,183,000) demonstrating financial strength of business.
  • Six new contracts signed in the period with major international organizations in the telecoms, aerospace & defense and law enforcement sectors; one further contract signed since period end – all expected to contribute to revenues in current financial year.
  • Increased investment in technology and sales & marketing validated by the securing of launch customers and partners for our MyID credentialing services, MyID Mail app and MyID machine-certificate solutions.

Richard Parris, Chairman and Chief Executive of Intercede, commented: “We have experienced one of our strongest ever six month trading periods and remain optimistic that this pattern will continue through the second half. No fewer than six new revenue generating contracts were signed in the half year, with a seventh earlier this month. In addition, we have advanced our technological proposition, enabling MyID to be applied in a growing range of devices and other environments. We have also continued to invest in our own sales capacity and expanded our indirect channels to market.

“The commercial outlook for the remainder of the year ending 31 March 2014 remains in line with expectations. Beyond that, I believe 2014 will be an inflexion year for the adoption of Intercede’s technology by mainstream channel partners and large customers. This underpins our focus on building a business and technology platform to deliver our previously declared high growth 2020 vision. We remain confident that this strategy will maximize long term shareholder value.”

For more information, read the full interim report.

About Intercede
Intercede® is a security software provider whose MyID® identity management platform enables global organizations and governments to create trusted digital identities for employees and citizens on secure devices such as smart cards, smartphones and tablets. MyID enables the protection of IP, assets, and digital content, delivering trusted digital identities as the cornerstone of cyber security strategies for government, defense, financial services and other industries.

The Company operates in global markets (including the US, Europe and Middle East) and works with large international partners to deliver flexible digital identity solutions that are interoperable with other existing technologies and which are tailored to customer needs.

The world’s largest governments, major corporations and mobile network operators trust Intercede’s deep expertise to deliver effective solutions. The Company’s technology achievements reflect a significant investment in the development of intellectual property, exemplary speed of deployment and adherence to international standards including FIPS 201, where MyID was the first electronic personalization product to obtain GSA approval. This trust is reflected in Intercede’s rate of repeat business with its customers, which typically runs at 70-80% of annual revenues.

Intercede has been developing ID management systems since 1992 and MyID is currently deployed by end customers located in 24 countries. The company is headquartered in the UK, listed on the London Stock Exchange (AIM: IGP) and is ISO 9001 and TickIT certified.

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
Tel.+44 (0)207 2200500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking

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


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