Business
Contract Wins and AGM Statement
Contract Wins and AGM Statement.
About this update from Intercede Group Plc
[{"type":"text","content":"\n \nRNS Number : 8322O Intercede Group PLC 25 September 2013 \n \n\n25 September 2013\nIntercede Group plc\n(\"Intercede\")\n \nIntercede is a leading provider of identity and credential management software,\ncreating trusted digital identities through its proprietary MyID product.\n \n Contract Wins and AGM Statement\nAt Intercede's Annual General Meeting, to be held today, Chairman & Chief Executive Richard Parris will make the following statement:\n \n\"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. \n \nIn April we reported the award of a major contract in support of a large scale government security program and in July we announced contract awards in support of two major telecommunications customers in North America and Europe. In addition to our core MyID services, both of the telecommunications customers have also contracted to use our innovative mobile identity solutions, justifying our commitment to invest in this important and fast growing area of the market. \n \nWe are also delighted to be able to announce two further new contract wins. The first of these is with a major European aerospace and defence contractor which provides further evidence of Intercede's strength in this sector, and the second is with one of Europe's largest urban police forces thereby providing an additional endorsement of Intercede's technology and market position.\n \nAll of these new contracts have already contributed to revenues in the current period and will continue to do so for the remainder of the financial year and beyond.\n \nAs 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 more than 10% year on year.\n \nTotal revenues in the first half of the current financial year are currently projected to be in the region of £4.5m compared to £3.5m in the previous year. The Company expects to be both profitable and to report an increase in cash balances to in excess of £7.0m as at 30 September 2013 (31 March 2013: £6.8m).\"\n \n ...