Intercede operating profit to miss expectations

8th Apr 2010 10:30

Security systems software developer Intercede said pre-exceptional operating profit will be ahead of last year but lower than market forecasts.This is due to 'slightly' lower than expected sales and continued investment for the growth of the business, the group added.Revenues for the year ended 31 March are seen about 10% ahead of the previous year's revenues of £5.7m. Chairman and chief executive Richard Parris said: "I am pleased to report an improved trading performance against a backdrop of the increasing adoption of our technology by national governments, managed service providers and large enterprise customers," "Our increasing market penetration has not only provided financial returns in the current period but is also creating annuity revenue streams for the future."