Trading Statement
04 Dicembre 2009 - 8:00AM
UK Regulatory
TIDMIEN
RNS Number : 5784D
Intelligent Environments Group PLC
04 December 2009
IEN.L
Intelligent Environments Group plc
("IE" or the "Company")
Trading update for the year ended 31 December 2009
Intelligent Environments Group plc (AIM Ticker: IEN), the online software
provider for financial services, today announces a trading update prior to the
Group's year-end on 31 December 2009.
The recent announcement of the merger of two major UK financial institutions in
the building society sector has resulted in a significant order for the IE
NetFinance platform being cancelled.
As a result, revenues and profit for the year ending 31 December will not
meet market expectations, but should be in line with 2008. Current year cash
flows have not been materially affected. In addition, despite winning 4 new
clients in the year compared to 2 in 2008, the downturn in the consumer finance
market has limited the growth potential in 2009 of our transactional based
revenue model, which is a temporary setback to long term profitable growth.
The Group's recently launched platform for NS&I, one of the UK's largest savings
and investment providers with 27 million customers in addition to 2 new brands
for Barclaycard, are testimony to IE's ability to supply market leading
solutions to support the online aspirations of the UK's financial services
industry.
These significant clients in addition to recent contract wins fully endorse
the strength of IE's business model and we remain confident of profitable growth
during 2010 and beyond.
Enquiries:
+----------------------------------+------------------+------------------+
| Phillip Blundell, Chief | IE plc | +44 (0)20 8614 |
| Executive | | 9800 |
+----------------------------------+------------------+------------------+
| Charles Cunningham, NOMAD and | FinnCap | +44 (0)20 7600 |
| Broker | | 1658 |
+----------------------------------+------------------+------------------+
| Shane Dolan | Biddicks | +44 (0)20 7448 |
| | | 1000 |
+----------------------------------+------------------+------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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