REG - Intercede Group PLC - Trading Update <Origin Href="QuoteRef">IGP.L</Origin>

IntercedeAnnouncement

07/10/2015 07:00

RNS Number : 4549B
Intercede Group PLC
07 October 2015
7 October 2015
Intercede Group plc
("Intercede" or the "Company")
Trading Update
We are pleased to report that Intercede has achieved strong revenue growth during the first half of the financial year. This is in line with expectations and reflects continued progress with existing customers and a number of new contract wins. 
First half revenues increased by more than 35% compared to the previous year from 4.0 million to approximately 5.5 million. An enlarged sales and marketing team continues to drive business expansion and during the period we have secured an enterprise-wide contract with one of the largest US healthcare corporations, sold our mobile derived credential solution to a major US Federal Agency, signed a new agreement with a US West Coast bank and made our first sale following the announcement of the Partner Agreement with Citrix on 13 May 2015.
As previously announced, we continue to invest in the recruitment and training of specialist technical professionals to ensure we remain scalable in a fast growing market. The size of the team has grown by approaching 10% year on year. 
The new contracts will all yield further revenues during the current year and beyond. The strong start to the year provides a solid base to meet market expectations for the year.
ENQUIRIES
Intercede Group plc
Tel. +44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director



finnCap
Tel. + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance

Joanna Weaving, Corporate Broking



About Intercede
Intercede is a software and service company specialising 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 MyID software is an identity and credential management system that enables organisations to create and assign trusted digital identities to employees, citizens and machines and in turn allows secure access to services, facilities, information and networks. MyID adheres to international standards, while remaining simple enough to be deployed onto consumer devices such as smartphones, tablets and other devices in the Internet of Things.
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. The cloud-based service provides a cost-effective and convenient way for developers and corporations to protect their apps and users' sensitive data.
For more information visit: www.intercede.com

This information is provided by RNS
The company news service from the London Stock Exchange
  END
TSTFSWFWMFISEFS