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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Innate Pharma | TG:IDD | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.075 | 3.65% | 2.13 | 2.11 | 2.15 | 2.13 | 2.06 | 2.06 | 491 | 20:59:22 |
RNS Number:8524I ID Data PLC 18 March 2003 Press Release 18 March 2003 ID Data plc ("ID Data" or the "Company") Trading Update In the Company's interim results released on 11th November 2002 the directors' were cautious in their outlook and highlighted that all ID Data's major publicly quoted competitors had reported lower sales against their comparative periods. The directors also stated that signs of a general upturn were not presently visible. The Board confirms today that the overall industry situation remains challenging, consequently, whilst ID Data's revenues for the current year will, in contrast to industry trends, show growth, it will be less than current market estimates. However, operational losses for the year to 31st March 2003 will have been reduced by more than a half when compared to the previous year, and will broadly be in line with the current market expectations. This result reflects planned cost reductions and margin improvements previously reported to the market. The markets for fixed line prepaid telephone cards and GSM cards are particularly difficult with continuing price, and therefore margin, erosion. Telecommunications companies are also tending to defer new projects and this has impacted on projected sales for OriginJ, our software product that provides full java on a smart card. Whilst a very encouraging response has been received from customers evaluating the product, the first orders are not now anticipated until mid 2003 with a significant contribution forecast for the second half of 2003/4. The initial revenues for Chipport are also expected to come through in the first half of 2003/4. Whilst the continuing market conditions and the impact of the delayed revenues described above means there is uncertainty as to the rate of revenue growth for the year to 31 March 2004, contributions from OriginJ, Chipport and near full year benefits from a lower cost manufacturing base, the board believes there should be further progress towards profitability. The delay in reaching profitability will, however, create a need for the company to secure additional funding within the short term. Discussions have started with a number of potential investors with a view to raising an amount that the directors anticipate will be sufficient to fund the business until it becomes cash generative. - Ends - For further information, please contact: ID Data plc Peter Cox, Chief Executive Tel: +44 (0) 1536 207 000 Martin Coles, Finance Director enquiries@id-data.co.uk www.id-data.co.uk Media enquiries: Bankside Peter Curtain / Heather Salmond Tel: +44 (0) 20 7444 4140 heather.salmond@bankside.com www.bankside.com Notes to Editors: ID Data plc ID Data plc ("ID Data") is the world's seventh-largest supplier of secure-transaction systems and smart-card services to the international telephony, banking, retail, and secure-access sectors. The Company's strategy, to move from commodity products to value-added services and solutions, has created a solid platform on which to build further growth. The Company's clients include Vodafone, Nectar, Tesco, the Automobile Association, Exxon Mobil and, in Poland, the Premium Club loyalty card scheme. ID Data has formed agreements with major global corporations to facilitate rapid market development including partnerships with Toshiba and Toppan. The Company has delivered in excess of 10 million chip cards to the banking market in the UK. The Company was founded in 1988 and was listed on AIM in October 2000. www.id-data.co.uk This information is provided by RNS The company news service from the London Stock Exchange END TSTVVLBFXXBBBBK
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