Intercede reports strong trading through March 2011

Tuesday, Apr 12 2011 by

Intercede, the Leicester based supplier of identity and credential management software, reported strong performance in a trading update for its financial year to March 2011 driven by increasing industrial demand for its digital security products.

Intercede anticipates results will show sales c.10% ahead of 2009/10's £6.2 million, a pre-tax profit of c. £2.0 million (2010: £510,000) and year end net cash £6.0 million (2010: £4.7 million). Intercede achieved growth despite the loss of expected revenues from the UK National Identity scheme which was cancelled by the current UK government in May last year. Sales to US government agencies and their contractors along with other foreign sales more than made up for the shortfall. Stronger growth is expected over the next 12-24 months as they look to new markets and partners.

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Disclaimer:  

This note was prepared by LCF Research Limited using information provided by the subject company’s management or publically available news sources. No representations are made nor warranties given (express or implied) in relation to accuracy and completeness. This document is not an invitation to invest in the subject company and does not purport to contain all the necessary information that a prospective investor might require. LCF Research Limited recommends prospective investors to conduct their own thorough independent analysis of the subject company and the information contained in this note or referred to above.


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Intercede Group plc is a United Kingdom-based software and service company. The Company is engaged in developing and supplying of identity and credential management software. The Company provides MyID software, which is an identity and credential management system that enables organizations to create and assign trusted digital identities to employees, citizens and machines. Its MyID software protects the networks, facilities and intellectual property of governments, agencies and other enterprise customers. In addition, it provides MyTAM, which is a cloud-based service that provides Android application developers and service providers to deploy trusted applications to the trusted execution environment (TEE) on mobile devices. It offers its solutions to various sectors, including aerospace and defense, finance and telecommunications; governments and federal agencies, and mobile developers. The Company operates in the United States and the United Kingdom. more »

LSE Price
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