5 Jun 2008 17:53
FOR RELEASE
7.00AM
6 June 2008
ACCESS INTELLIGENCE PLC
("Access Intelligence" or "the Group")
(Software and computer services)
Trading update
The half year sales to 31st May 2008 finished broadly in line with management's expectations at £1.9m up 10% on the previous year (2007: £1.73m). At the period end, cash balances exceeded £500,000.
The second quarter of the financial year saw sales increase by 20% over the first quarter, as we began to see the results of the increased sales resource introduced at the beginning of this financial year. However, as a consequence of investing in the sales resource the first half loss is likely to be slightly greater than the previous year.
Due North has already benefited from the investment through a win the South West Centre of Excellence representing 51 councils. Additionally they have renewed for a further 3 years their e-sourcing contract for the majority of the UK's police forces. Software as a service is finding increasing support and both MS2M and Due North are well placed to benefit from this trend. Our sales teams are in discussions with significantly more potential customers than this time last year with total order value potential some 2.4 times greater than at 31st May 2007. Our success in converting these prospects will be the key driver of the year's outcome.
Our next update will be on 6th August when our interim results are announced.
For further information:
Access Intelligence plc 01904 520 840
Jeremy Hamer (Non Executive Chairman)
Brendan Austin (Chief Executive)
Colin Davies (Finance Director)
Cubitt Consulting 020 7367 5100
Brian Coleman-Smith / James Verstringhe / Nicola Krafft
Blue Oar Securities 020 7448 4400
Rhod Cruwys / Shane Gallwey
The Group Today
Access Intelligence is based in York with offices in Stockport, Greater Manchester, Chorley, Lancashire and Newcastle upon Tyne.
It is a compliance led Software and Computer Services group of companies providing business critical compliance and legislative driven services to both public and private sectors.
The software services are provided primarily as Software as a Service (SaaS) on a recurring revenue basis. Its principal software led services are:
The Virtual Compliance Officer™ which enables companies in the retail financial services sector to support their customer acquisition process whilst also ensuring that they comply with ever increasing regulations from the EU and the FSA.
mysatcom.net™ a compliance portal which enables companies in the general insurance and mortgage sectors to risk asses their businesses against FSA compliance requirements.
ProContract™ a suite of sourcing and procurement software which enables public sector bodies and private enterprises to demonstrate compliance and transparency when acquiring goods and services.
ProContract™ streamlines and reduces costs of tendering and contract management for both buyers and suppliers in the public and private sectors. The government has the objective that all public sector bodies comply with its directive to use methods such as electronic tendering for goods and services in order that it can meet its planned reductions in public spending.
The Group's data management solutions include:
backup & running™ ensures secure encrypted online storage and management of data.
Starscan™ its anti virus and spam filtering managed service which prevents companies' servers being brought down by external virus attacks.
Starserver Monitor™ its managed support service which remotely monitors clients' servers and networks to ensure optimum availability.
The Group's email archiving and high availability storage and retrieval systems, used by both private and public sectors ensure that information is available when required in a secure environment. They assist organisations in their need to comply with initiatives such as Sarbanes-Oxley and the Data Protection Act.
The Group provides nationwide support services to both public and private sector organisations in the UK.