Business
Positive Trading Update
Positive Trading Update.
About this update from Intercede Group Plc
[{"type":"text","content":"\n RNS Number : 9916T Intercede Group PLC 07 October 2010 \n \n\n7 OCTOBER 2010\nIntercede Group plc\n(\"Intercede\")\n \nPositive Trading Update\nIntercede, the producer of the Intercede MyID Identity and Credential Management System, today announces excellent progress in the six months ended 30 September 2010. \nSales revenues for the first half of the current financial year are more than 20% higher than for the comparable period last year resulting in an increase in profit at all levels. The sales increase primarily reflects growth in the US market as evidenced by a number of recent contract wins, notably the announcements made on 22 and 30 September 2010 which have a combined order value in excess of $2m.\nAs a result of this growth, the US market now constitutes more than 50% of the Group's sales.\nThe cash balance as at 30 September 2010 was £4,470,000 compared to £3,913,000 at 30 September 2009 and £4,664,000 at 31 March 2010. As previously reported, the Group effectively entered the current financial year with a net cash balance of £3,917,000; that is, net of post year end exceptional payments relating to the previous financial year.\nRichard Parris, Intercede's Chairman and Chief Executive, said: \"Our order book demonstrates how Intercede continues to gain momentum. I am particularly pleased that our focus on the US government and defence market has been rewarded with new orders. Last year I stated Intercede had 'crossed the chasm'. This year I believe Intercede will reach the 'tipping point', the point at which Intercede's critical mass in the market will enable us to accelerate ahead of our competitors\".\nFurther Information on Intercede MyID\nIntercede MyID is the only IDCMS software product that enables organisations to easily and securely manage the identities of people and their associated identity credentials within a single, integrated, workflow driven platform. This includes enabling and managing: secure registration, biometric capture, application vetting and approval through to smart card personalisation, issuance and management.\nMyID was the first electronic personalisation product to achieve compliance with the FIPS-201 standard and is widely deployed by Federal Agencies, government contractors and other commercial entities. In particular, it supports the latest standards applicable for ...