Intercede, the software and service company specialising in identity, credential management and secure mobility, today announces its interim results for the six months ended 30 September 2015.
- Revenues of £5.5m (2014: £4.0m), an increase of 37%.
- Operating expenses increased to £5.7m (2014: £4.9m), as a result of continuing investment in infrastructure, technology development and sales capacity.
- Headcount increased to 125 at 30 September 2015 (30 September 2014: 116).
- Operating loss of £0.4m (2014: £1.1m).
- Profit for the period of £0.5m (2014: loss of £0.7m).
- Basic earnings per share 1.0p (2014: basic loss per share 1.4p).
- Cash balances of £5.8m remain strong at 30 September 2015 (30 September 2014: £6.3m).
- Four new contracts signed during period, which will all contribute to revenues during the current financial year and beyond:
- 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.
- First sale following the announcement of the Partner Agreement with Citrix on 13 May 2015.
Richard Parris, Chairman & Chief Executive of Intercede, said:
“We continue to execute our strategy of attacking multiple markets within the broader spectrum of identity and credential management. The more mature market is where our MyID product has entrenched itself as the industry standard, based on a high margin and strongly cash generative business model. This in turn provides the financial stability to invest in the second strand of our strategy, which is to use our technical knowledge and industry network to exploit newer opportunities based on the convergence of mobile data, cybersecurity and the Internet of Things. While we must be mindful of the fact that because they are new, the timing of the conversion of these opportunities into committed orders is harder to predict, we are increasingly confident that the success we have enjoyed in delivering the first part of our strategy will be replicated.”
Read the full interim results here: 2015 Interim Report
Intercede Group plc
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Tel. +44 (0)1455 558 111
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking
Tel. +44 (0)20 7220 0500
Tel. +44 (0)7802 442486