Intercede claims it is in a stronger positon than a year ago

Intercede, the identity and credential management software provider which issued a profit warning in February, said full-year profits look set to be in line with market expectations.

Although the figures have yet to be signed off by the auditors, the company indicated that sales for the year to March 31st will be higher than the previous year.

Market expectations are for profit before tax of £0.6m on revenue of £6.9m.

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Cash balances totalled £7.0m at the end of March, which compares to £6.0m at the same time last year. House broker finnCap had forecast end-period cash balances of £6.5m.

"Intercede is in a stronger position than a year ago both financially and operationally despite a depressed global economy; and the orders we have received demonstrate that we remain the technology leaders in our sector," claimed Ricard Parris, who is both Chairman and Chief Executive of Intercede.

"We remain committed to investing in the development of market leading technology to meet demand for identity focused services around the world and in the US in particular. As we continue to grow our sales infrastructure and support capability, we are increasingly better placed to exploit this growth potential," Parris added.