Member Info for jange

New customer accounts contributed 21% of total sales with the number of user licences issued rising to over 5m. Sales in North America have grown strongly as a result of several big wins to contribute over 64% of total sales.

Intercede, whose MyID identity management platform allows companies and governments to create digital identities for employees on secure devices such as smartcards, smartphones and tablets, has customers including ANZ Bank, BASF, Boeing, HealthSmart Australia, Lockheed Martin and Swedbank. Chairman and chief executive Richard Parris said: "The investment we have made this year in our sales and delivery capability gives us a real competitive advantage

Security software provider Intercede reported a fall in annual profit but remains confident about future trading amid a sharp rise in new customer accounts and strong growth in North America. The group, which issued a profit warning in February, said pre-tax profits fell to £0.9m in the year to the end of March from £2m the year before. Revenues increased to £7m from £6.9m a year ago.

Profit before tax in the first half is now expected to be in the order of £1.5m. Severfield-Rowen now says full-year profits will be "below current expectations".

Steel company Severfield-Rowen has issued a profit warning after being hit with cost overruns on two UK projects. The company says budgets have been exceeded by a total of £1.6m, while the wider business is likely to see higher revenues in the second half of the year.

This has led to a whopping 55.25% boost to the stock price in morning trading.

The joint venture has already won one contract with Norwegian oil explorer, Spring Energy Norway. In a separate announcement Thalassa says it now has contracted revenues for 2012 of £15m, "with profits expected to show a several fold increase against current market expectations."

The seismic data company, Thalassa, has issued a big upgrade to its profit forecasts for 2012, on the back of a new technology joint venture and a growing order book. The partnership with WGP Group will see Thalassa offer technology that can produce low cost 3D seismic data with from small vessels, as well production rates of up to 25 square kilometres per day.

Shares in gold miner Triple Plate Junction plunged 20% on Monday morning after it said drilling would be suspended at its Morobe project in Papua New Guinea for six months after it failed to strike gold. The firm said it would carry out additional fieldwork in the meantime and said "it must be remembered that we have only drilled eight holes and at what is a colossal exploration project with many prospects. To have hit a massive intersection in the first few holes was always an ambitious hope."

Asterand, the human tissue and research services provider, has entered into a conditional agreement to dispose of the Human Tissue Business to US bio-pharmaceutical company Stemgent, for an aggregate cash consideration of $9.0m. The company anticipates that the net cash proceeds of around $7.6m, together with the existing cash resources of the group, will be used to pay down in full its secured debt, which amounts to $9.0m.

Hardide, a provider of unique surface engineering technology, has reported a 94% leap to £0.79m in half year turnover for the six month ended March 31st, pushing the company back into the black with profits of £0.2m (2011: loss of £0.4m). However, the company warned that, while it has achieved excellent growth in the first half of the year, it is aware that there has been an element of stock building by certain key customers. "We therefore need to be cautious in basing our full year expectations on a repetition of the first six months. Nonetheless, we do expect the full year results to show good growth over last year," the firm said. Cash at the end of the period rose from £0.3m to £1.1m.

International film group Intandem Films has become one of only 10 companies in the world to secure financing via the California Film Commission (CFC) Tax Credit Lottery. The lottery is the name given to the annual selection of films and TV shows eligible to receive a tranche of the $100m allotted for state film tax credits. The firm's film, "10 Things I Hate About Life", will receive $1.76m from CFC, with filming set to begin this November in Los Angeles. In addition to being responsible for raising the production finance for the film, for which it will earn producer fees, Intandem has worldwide sales rights to the film and will earn 15% commission on all sales. The company achieved pre-sales of almost $2.0m at the Cannes Film Festival in May.

Thankfully, the dividend, which generates a fat yield, is covered at least twice by underlying earnings excluding rail. Still, acquiring US school bus firm Petermann will push net debt towards £800m this year and, despite being well within covenant thresholds, problems may surface if the market gets twitchy.

UK rail presents its own difficulties. Express has already lost its East Anglia franchise and c2c (Thameside), which runs from London to Tilbury and Southend, could go too. Trying to keep c2c and win the Great Western franchise will cost about £12m this year. However, failing on either count would damage morale more than the share price, which already reflects a full exit from rail.

Spain is a worry for Express because it's expected to generate about 40 per cent of group profits. True, revenue from both urban routes and coach trips grew in the first quarter, yet fares may not look so cheap if conditions deteriorate further. A weak euro is tipped to cost £7m this year and a share price pegged to the fortunes of the Spanish Ibex index in recent months is hardly reassuring. Profit from non-transport work, such as fuel distribution and managing motorway service stations, is falling already and that side of the Spanish operation may lose money.

NATIONAL EXPRESS (NEX) ORD PRICE: 188p MARKET VALUE: £962m TOUCH: 188-189p 12-MONTH LOW: 269p LOW: 187p DIVIDEND YIELD: 5.9% PE RATIO: 13 NET ASSET VALUE: 187p NET DEBT: 66% Year to 31 Dec Turnover (£bn) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2008 2.77 110 40.4 22.7 2009 2.71 -84 -17.6 nil 2010 2.13 40 12.1 6.0 2011 2.24 129 19.9 9.5 2012* 1.82 100 14.8 11.0 % change -19 -22 -26 +16

Meanwhile, Express's first-quarter numbers offered scope for the bears. Less revenue from pensioners and school children – so-called concessionary fares – capped UK bus growth at 2 per cent. The division only chips in 15 per cent of group operating profit, but increasing both volume and ticket prices to offset a 20 per cut in bus subsidies will be difficult. Withdrawal of government grants in November also leaves Express with a £15m hole to fill at its coaches division. Its own pensioners' discount card has been slow to catch on, leaving the division's concessionary revenue down £2.8m, or 40 per cent, during the quarter.

A further round of cost-cutting and fare hikes swelled profits in 2011, suggesting better times ahead. And there should be. Now, though, with downward momentum building and Spain on a cliff edge, it should make sense to sell the shares and buy back once the bloodletting is over. Clearly, a second profits warning in 18 months from rival FirstGroup at the end of March proved significant for rivals, too. Express shares had done nicely until then. Now, however, they are down a quarter and the outlook is glum. The share price is on its way to 180p and, according to our in-house technical analyst, Dominic Picarda, the relief there may only be temporary. Its history of slipping deep into oversold territory implies scope to test price support down to 155p. Traders who want to fine tune their play could wait for the price to bounce back to its 21-day exponential moving average (currently 206p), then sell as the price dips back through that line again.

With no sign that sentiment towards the eurozone will improve, the market may take time to recognise the deep value in PPHE's shares. But, in the long term, a 66 per cent discount to underlying net assets looks unsustainable. But as always do your own research.......

That's presumably because the most important reason why the shares are lowly rated is the double-dip recession. For all hotels, their fixed costs mean their performance is highly geared to economic growth. For PPHE the risks are magnified by its development-led growth and its debt. But it may pay to be sanguine. The company seems to have little trouble raising debt and no major loans are due until 2015. As important, PPHE's operational performance has been impressive, with average room rates growing by 7.6 per cent last year (9.7 per cent like-for-like) with no increase in vacancies. Year-on-year growth moderated to 4.9 per cent in the first quarter, but remains robust. High exposure to buoyant London has helped - but even the London Park Plaza hotels appear to be outperforming their peers