Preliminary Results for the Year Ended 31 March 2015

Date: June 2nd 2015 | Author: Rik Merrikin | Topic: RNS

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 2015. 

Highlights                                                                                                                                                                                

  • Sales revenues of £8.8m (2014: £9.8m)
  • Operating expenses increased to £10.2m (2014: £9.4m), as a result of continuing investment in infrastructure, technology development and sales capacity
  • Headcount increased to 119 at 31 March 2015 (2014: 105)
  • Loss for the year of £1.3m (2014: profit of £0.8m)
  • Loss per share 2.7p (2014: earnings per share 1.6p)
  • Cash balances of £5.9m remain strong at 31 March 2015 (2014: £7.2m)
  • The Group has no debt
  • Launch of MyTAM, a fully hosted cloud service that provides security for applications needing to store personal data, enable financial transactions or protect valuable content. MyTAM can be used with many Android devices, including Samsung and HTC handsets
  • Since launch of MyTAM, partnerships announced with five organisations engaged in mobile cybersecurity, covering mobile payments, voice encryption, app development and the provision of security solutions for Bitcoin

Richard Parris, Chairman and Chief Executive of Intercede, said today:

“Our strategy remains unchanged, because the cybersecurity market opportunity is, if anything, bigger than previously thought, especially in mobile, even though the immediate fiscal and political landscape has slowed down initial orders. Investment in exploiting this opportunity will continue, especially as interest in our new technology is growing, evidenced by the number of MyTAM partnerships we have recently entered into. In the short term, our investment in this new and growing market will be supported by Intercede’s established MyID product which generates a high margin from a secure base of recurring revenues and provides cash for this investment. In the medium term, we expect the returns from our investment to create larger, growing and more diverse revenue streams.

Read the full Preliminary Results here:  Preliminary Results for the Year Ended 31 March 2015

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ENQUIRIES

Intercede Group plc
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director

Tel.      +44 (0)1455 558111

finnCap Ltd
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking

Tel.      + 44 (0)20 7220 0500

Pelham Bell Pottinger
Archie Berens

Tel.      +44 (0) 7802 442486

 


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