Intercede Regulatory News (IGP)

11 Apr 2008 07:00

Intercede Group PLC11 April 2008 11 APRIL 2008 INTERCEDE GROUP PLC ("Intercede" or "the Company") Trading Update for the Full Year to 31 March 2008 On 14 February 2008, Intercede announced a number of new contract wins, andfurther progress on several existing projects. As it enters its closed periodahead of announcing full year results for the financial year ended 31 March2008, Intercede is pleased to report that it continues to experience high levelsof interest in and demand for its MyID technology. Good progress has been made with all of the projects referred to in theCompany's previous announcement. Intercede has also been engaged with a numberof new prospects. To put this in perspective, the Group is currently involved insignificant work on over 10 major projects whereas, as recently as 2 years ago,Intercede was typically only working on 2 major projects at a time. The momentumis therefore clearly building and we are increasingly confident that this willbe reflected in future financial performance as more and more projects movebeyond the initial POC and pilot phases. Significant progress has also been made during the past year with thedevelopment of MyID Version 8.0 which is scheduled for launch during the currentquarter. MyID Version 8.0 represents a substantial strengthening and broadeningof the Group's historical card management offering since it is the only solutionof its kind to deliver registration, ID verification and card/device issuanceand life cycle management within a single product. Pre audit indications of the results for the year ended 31 March 2008 are thatrevenues have increased from £2.6m to £2.8m. Costs continue to be tightlycontrolled and have been maintained at the same level as the prior yearresulting in a substantial reduction in last year's operating loss of £0.3m.Year end cash balances totalled £1.15m. Intercede expects to announce its full year results for the year ended 31 March2008 by early June 2008. About Intercede Intercede Group plc is a leading developer and supplier of smart card andidentity management software listed on the London Stock Exchange (IGP LN)(IGP.L). Intercede's MyID software manages the secure registration, issuance andlifecycle of digital identities for a wide range of uses. This requires theintegration of multiple technologies and products from many different vendors,including smart cards, biometrics, digital certificates, Open Platform appletsand physical access control systems. Intercede works with a number of market leading OEM, re-seller and technologypartners that supply MyID technology to the global market place including:Athena Smartcard Solutions, Gemalto, Oberthur Card Systems, Oracle, RSASecurity, SafeNet, Thales, VeriSign and a variety of systems integrators andother security product and service providers. Intercede and MyID are registered trademarks or trademarks in the UK, US and/orother countries. For more information visit http://www.intercede.com ENQUIRIES Intercede Group plc Tel. +44 (0)1455 558111Richard Parris, Chairman & Chief ExecutiveAndrew Walker, Finance Director KBC Peel Hunt Tel. +44 (0)20 7418 8900Richard KaufferDaniel Harris Pelham Public RelationsArchie Berens Tel. +44 (0)20 7743 6679 This information is provided by RNS The company news service from the London Stock Exchange