News blog
Intelligent Environments
- BY: Andrew Hore |
- POSTED: 25/07/2007 |
New customers in Europe and the Middle East are helping Intelligent Environments to expand internationally.
IE supplies software to the banking market that enables individuals to apply for financial products online. It is predominantly a UK business but there is scope to expand overseas. Revenues grew 72% to £3.07m in the first half of 2007. IE is building up its transactional revenue base but the majority of group revenues still come from software sales and implementation. Barclaycard is an IE customer through its partner First Data. Barclaycard has signed up Argos and Thomas Cook as affinity partners and this provides an opportunity for significant transactional revenues.
IE recently moved into the building society market with its partner Unisys. It recently won a contract with the West Bromwich Building Society, its second customer in this area.
Profits of £750,000 are forecast for the full year, against £406,000 profit in 2006. The shares rose 0.875p to 10p following the trading statement. They are still well below their 2007 high of 13.125p.
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