Intercede Group 1st Half Profit Down 47%, Confident About Long Term Strategy
December 01 2011 - 3:42AM
Dow Jones News
Intercede Group PLC (IGP.LN), a producer of Identity and
Credential Management software called MyID, Thursday said pretax
profit for the first half of the year declined by 47% due to
planned investments to accelerate business growth, and added that
its board remains confident in the company's long term growth
strategy.
MAIN FACTS:
-Sales for six months ended Sept. 30 GBP3.5 million (2010:
GBP3.5 million).
-Pretax profit GBP653,000 (2010: GBP1.2 million).
-Operating profit GBP617,000 (2010: GBP1.2 million).
-Diluted EPS 1.4 pence (2010: 2.5 pence).
-Cash GBP6.6 million (2010: GBP4.5 million).
-Inks agreement on Nov. 14 with Hewlett Packard (HPQ), whereby
the HP Global Identity Practice will deliver MyID as a component of
their Assured Identity Plus solutions.
-Under the agreement, Intercede and HP will target large scale
Federal, state and local government agencies and major enterprise
customers.
-Shares at 0809 GMT flat at 60 pence.
-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448,
tapan.panchal@dowjones.com
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