Source: ID Data
ID Data plc, the smart-card systems company, today reports its preliminary results for the year ended 31 March 2004.
Highlights
- Turnover of £11.25 million, a 43% reduction compared to the previous year, due to the previous one-off effect of the Nectar Loyalty card launch in 2002
- Pre-tax loss of £5.1 million compared to £3.4 million last year
- Ongoing fixed operating costs reduced by £1.6 million
Since the year end:
- Controlling interest taken in OneEighty Software, the developers of Origin-J
- Significant new contracts won with GE Capital and Citicorp
- Acquisition of CardBASE Technologies
- Growing demand for bank chip-and-pin technology is expected to add significantly to sales and profit opportunities during the next financial year
Commenting on the Interim Results, Peter Cox, Chief Executive of ID Data plc, said: "I am confident the work carried out in the last year will have an ongoing beneficial effect on the Group's prospects and will lead to the returns expected by our shareholders."