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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