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Intelligent Environments
- BY: Andrew Hore |
- POSTED: 09/12/2008 |
Intelligent Environments has added two new online savings customers.
The online financial applications software provider says that it is on course to meet profit expectations for 2008. House broker FinnCap forecasts 2008 profits of £1.3m. Interim profits rose from £268,000 to £413,000 even though there was a small decline in revenues.
IE has agreed minimum contracts of three years with the two UK savings and investments companies and it will receive revenues for each transaction handled by its software. The deal could be worth £1m over that three year period.
A pre-close trading statement is planned in January.
IE shares rose 0.75p to 7.25p each, which values the company at £11.9m. The shares are trading on nine times forecast earnings for 2008.
IE should have net cash of £1.3m at the end of 2008.
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