Trading Update for the Full Year
to 31 March 2005
Intercede are delighted to report
significant progress in the second half of the year ending 31
March 2005. Several significant new contracts have been closed
and the Group's international distribution channels have started
to generate both revenues and new prospects. As a result of this
success, we anticipate being able to report financial breakeven
for the second half of the current year in both profit and cashflow
terms. Additionally, we can report our largest ever forward order
book and sales pipeline for the next financial year.
Since 30 September 2004, the following
orders have been received:
1. DoT Ireland
Intercede has been selected by the Irish Department of Transport
to provide its MyID smart card and identity management software
for the secure enrolment, processing and management of digital
tachograph cards.
2. Gemplus
An order in excess of £0.5m has been received from Gemplus,
a leading provider of smart card solutions, for a major European
customer.
3. RSA Security
Partnered with RSA Security to win an initial order with a prestigious
European aerospace contractor.
4. European Notaries
Secured a strategically important win with an Association of European
Notaries to issue smart cards to all of the notaries in that country.
5. The British Library
Following a public tender, Intercede was awarded a contract to
issue smart cards to all of the British Library's employees.
6. Major Russian Telecoms Company
After a successful test installation, the rollout of production
licences
has commenced to a major Russian Telecoms Company.
Within the last few weeks, we
have also been advised that we have been successful in bids for
a major US aerospace contractor, a major UK clearing bank and
a major European insurance group. Further details will be provided
as appropriate as contracts are finalised.
All of these wins are encouraging,
although the US aerospace order is perhaps the most worthy of
note given the potential scale of the US Federal Government market.
This is a major new market that
is opening up rapidly as a result of Homeland Security Presidential
Directive #12 and the subsequent publication of the FIPS-201 standards
document on 8 March 2005. This publication opens the way to the
rebadging of all Federal employees with smart cards. This is a
massive undertaking and the major industry providers have started
to build their product portfolios in anticipation of the first
Invitations for Tender being issued later this year. MyID is perceived
to be one of a small number of suitable commercial products and
the US Government demands multiple sources of supply.
The Directors believe that Intercede
is in a very strong position to harvest a portion of this market
- we have the technology and the US partners either in place or
under late stage negotiations. Furthermore, recent Intercede contract
wins have led to the viral marketing of our reputation as one
of the 'best products' for the job within US smart card circles.
About Intercede
Intercede Group plc is a leading developer and supplier of smart
card and identity management software listed on the London Stock
Exchange (IGP LN) (IGP.L). The Group's MyID™ software manages
the secure registration, issuance and lifecycle of digital identities
for a wide range of uses. This requires the integration of multiple
technologies and products from many different vendors, including
smart cards, biometrics, digital certificates and Open Platform
applets.
Intercede's customers cover a
range of industries and include Athena SmartcardSolutions, Barclays
Bank, BEWAG, Department of Transport Ireland, Fujitsu, Lloyds
TSB, the UK National Health Service (NHS), the Metropolitan Police,
PinkRoccade, Royal Bank of Scotland, RSA Security, Ubizen and
various US and UK Government agencies and departments.
For more information, visit www.intercede.com
Enquiries:
Intercede
Tel. +44 (0) 1455 558111
Richard Parris - Chairman & Chief Executive
Andrew Walker - Finance Director
