19 October 2017
visit www.avoka.com

Intelligent Environments rises on bullish update

25 July 2007  |  3309 views  |  0 stock quote

Shares in UK retail banking software vendor Intelligent Environments (iE) edged ahead in morning trading after it said it expects to report a 72% rise in first half revenue - well ahead of market expectations.

IE stock increased 6.80% to 9.75 pence after the vendor released an upbeat trading statement saying it expects to report revenues of £3.07 million for the half year ended 30 June 2007, which is a 72% increase on the year ago period.

Operating profit for the period remains in line with management expectations, says iE, while cash inflow of £308,000 will result in a cash balance of £1.174 million at 30 June 2007.

Commenting on the forecast, Phillip Blundell, CEO of iE, says: "We are confident that profit momentum will continue as the Group expands into new markets and geographies, in-line with our strategic focus to secure long-term partnerships."

Blundell says deals with Barclaycard, Creation Financial Services and Principality Building Society have now entered production. The vendor also inked a partnership agreement with Unisys during H1 which has resulted in a contract win with The West Bromwich Building Society.

IE has also secured a European partner for credit card services as well as a Middle Eastern partner for insurance systems.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Intelligent Environments on course for first full year profit

Intelligent Environments on course for first full year profit

16 January 2007  |  4010 views  |  0 comments
Intelligent Environments reports Barclaycard deal

Intelligent Environments reports Barclaycard deal

04 October 2006  |  6897 views  |  0 comments
Intelligent Environments falls short of expectations

Intelligent Environments falls short of expectations

24 January 2006  |  3996 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15518 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8711 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8350 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7799 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6962 views comments | 9 tweets | 17 linkedin

Featured job

Find your next job