Trading Statement

    RNS Number : 9371B
  ID Data Group PLC
  26 August 2008
   

    
26 August 2008

    ID Data Group plc

    ("ID Data" or the "Company")

    Trading update


    ID Data Group plc (AIM: IDD), the smart card and card solutions group, today announces a trading update ahead of the publication of its
results for the financial year ended 31 March 2008.

    ID Data's trading for the year ended 31 March 2008 produced an estimated EBITDA from continuing operations of approximately £(0.7)
million (negative) on a 25% increased turnover of approximately £10.0 million. This represents a significant improvement over the previous
year in which ID Data's EBITDA was £(3.3) million (negative).

    The Company's previously announced need for additional funding remains although this requirement was reduced by the proceeds of the sale
of credEcard earlier this year.  In order to meet its short term working capital and debt funding requirements and fund future expansion, ID
Data is currently seeking to raise between £2 and £3 million via the issue of debt, equity or a combination of the two.

    In the interim period the Company funding is being supported by an additional £1m secured credit line provided by the Company's CEO,
Peter Cox,  who owns 10% of ID Data, together with  credit from a non trade creditor.

    The Company is hopeful that its trading will move EBITDA positive in the current financial year and is encouraged by recent business
wins, including the Buypass contract for US$5 million which commenced production this month.

    ID Data has also seen a resurgence of interest in card based end-to-end loyalty solutions, being driven by retailers looking to
identify, retain and motivate their customer base during
     these difficult trading times.

    The Company is now actively engaged in the procurement rounds associated with  the launch of the UK National ID Card programme and
believes it has a series of components that will enable it to progress these discussions positively.  The Company will notify the market
    of any significant developments when they occur. 

    The Company has received approaches regarding the acquisition of its core business, ID Data Limited, and it is evaluating these along
side its future funding needs.

    The Company expects to publish its final results for the year ending 31 March 2008 by the end of September 2008.

    Commenting, Peter Cox, Chief Executive of ID Data, said:

    "ID Data has made significant progress and has shown that it can achieve major contracts against global competition but, as we expand
the sales line, the requirement for working capital becomes greater. 

    "The key requirement for our continued business success is to be fully resourced, so we can acquire major new contracts over the coming
months knowing we can deliver them in confidence. 

    "We are continuing our discussions with current investors by offering the market a series of investment options. We are also hopeful of
attracting new investors and completing our funding during October 2008, whilst reviewing all options." 


    -Ends-

    For further information, please contact:

    ID Data Group plc
    Peter Cox, Chief Executive
    [e-mail] 
    Tel: [phone]

    Smith & Williamson Corporate Finance Limited
    Azhic Basirov / David Jones
    Tel: [phone]

    Media Enquiries
    Abchurch
    Chris Lane / Joanne Shears
    [e-mail]
    Tel: [phone]



    About ID Data

    ID Data is a fully accredited Visa and MasterCard card producer and card processor with its high security bank card capabilities based
in Petersfield, England.  The Company has won major acclaim for its deliverables in the touch and go payments sector, plus is one of the few
"Multos" issuing partners in the world, where it can develop and deliver multi application technology using the Multos platform.


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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