3rd Oct 2007 07:00
Intercede Group PLC03 October 2007 3 OCTOBER 2007 INTERCEDE GROUP PLC ("Intercede" or the "Company") Trading Update Intercede, one of the world's leading developers and suppliers of smart card andidentity management software, is pleased to report excellent progress in the sixmonths ended 30 September 2007. As reported in the 2007 Annual Report, theCompany has continued to execute its strategy to: • position MyID as the critical product that enablesconvergence of IT and physical security systems; • work with OEM partners on new releases which furtherintegrate MyID into the core of their product suites; • work on key projects in the US and beyond; and • strengthen the team in order to deliver the highestquality products and customer support to partners and customers. As a result of all of these efforts, sales for the first half of the currentfinancial year are more than 20% higher than those for the corresponding periodlast year. Costs and cash have also been kept under control throughout the period, asevidenced by a half year cash balance of £1,575,000, compared to £653,000 at 31March 2007. This means that the Company generated £244,000 of cash during theperiod, in addition to the Placing in May 2007 which raised a further £678,000net of expenses. Further details will be provided when Intercede announces its Interim Resultsfor the six months ended 30 September 2007, which is expected to take place inDecember 2007. 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 and Open Platformapplets. Intercede works with a number of market leading OEM, re-seller and technologypartners that supply MyID technology including: Athena Smartcard Solutions,Gemalto, Oberthur Card Systems, RSA Security, SafeNet, Thales, VeriSign and avariety of systems integrators and other 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 (Nominated Adviser and Broker) Tel. +44 (0)207 418 8900Richard Kauffer/Gordon Suggett Pelham Public RelationsArchie Berens Tel. +44 (0)20 7743 6679 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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