Intercede jumps into profits

Security systems software developer Intercede turned into profits for the year with revenues doubling, as the firm benefited from the rapid growth in the identity and credential management market. Profit before tax came in at £1.4m against a loss of £200,000 last year on revenue that doubled from £2.8m to £5.7m."In spite of the global recession, the outlook within the identity industry is exciting as an increasing number of large scale Government Public Sector projects are being launched in the US, Europe and other regions," said the group"There is also good growth potential in a number of industrial sectors, such as defence and energy. Intercede is well positioned, through its market leading MyID products and channel partner network, to exploit these emerging opportunities," it added.