Year End Trading Update
Intercede is pleased to confirm that the Group has delivered growth from its identity and credential management business and has also continued to make good progress in the significantly higher growth opportunity that is anticipated in the Cloud-enabled, application service centric, mobile and Internet of Things markets.
Revenues for the financial year ended 31 March 2016 are expected to be approximately £11.0m, 25% higher than the previous year’s reported revenues of £8.8m. Cash balances of £5.3m remain strong as at 31 March 2016 (31 March 2015: £5.9m), notwithstanding high levels of investment in people and resources.
This investment has been made to address the higher growth opportunity described above, and two recent developments provide further evidence of progress: first, the announcement of a new Android security platform; and second, enhanced security for the new Intel Authenticate technology based on Intel’s new 6th generation processors.
In addition, Intercede is also set to launch a self-service capability for its new secure, easy to implement RapID solution that enables service providers to quickly deploy strong authentication to services from mobile apps.
Richard Parris, Intercede Chairman & Chief Executive, said:
“I am delighted to be able to report record sales for the year while also seeing increasingly clear signs of interest in the new technology that is being created by the Group’s program of strategic investment. What is especially exciting is that this interest is being backed up by real commitment from some of the largest and best known technology companies in the world, whose hardware is used by billions of people every day. I remain confident that our strategy of funding investment in this opportunity out of revenue derived from an established market position will generate significant returns for shareholders.”
Intercede intends to announce audited financial results for the year ended 31 March 2016 during the early part of June.
|Intercede Group plc
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
|Tel. +44 (0)1455 558111|
Stuart Andrews, Corporate Finance
Joanna Scott, Corporate Broking
|Tel. +44 (0)207 220 0500|
|Pelham Bell Pottinger
|Tel. +44 (0)7802 442486|
Intercede is a software and service company specializing 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 product portfolio includes MyID, an identity and credential management system that assigns trusted digital identities to employees citizens and machines. 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.
For more information visit: www.intercede.com or follow us on Twitter: @IntercedeMyID