Report
Scott Fulton

Intercede Flash Note

Intercede has signalled that the second half of 2016/17 is likely to be materially stronger than the first. There is clearly a return in momentum within its core “occupational” market (MyID) which bodes well for the current year (2017/18). We remain convinced that the move to mobile usage in this market and the roll-out of the RapID product in mobile transactions will drive substantial improvements such that the Group returns to profit by 2018/19. We upgrade forecasts and our estimate of NPV.
Underlying
Intercede Group PLC

Intercede Group is a holding company. Through its subsidiaries, Co. is a software and service company focuses on identity, credential management and secure mobility. Co.'s product portfolio includes MyID, an identity and credential management system that assigns trusted digital identities to employees citizens and machines. Co. also provides MyTAM, enabling trusted applications to be loaded into a mobile device's Trusted Execution Environment, providing hardware-level security for Android apps. Co. provides RapID, an authentication service for mobile apps and cloud services to eliminate the need for passwords.

Provider
Capital Access Group
Capital Access Group

Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.

Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.

Analysts
Scott Fulton

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