i-documentsystems Group PLC
18 March 2002
For immediate release
i-documentsystems group plc
Trading Update
Following its preliminary results, announced in December 2001, i-documentsystems
group plc has made steady progress towards achieving its stated target of 40
local authority clients by the end of April 2002 and 50 by the end of October
2002.
Since the year-end i-documentsystems has obtained commitments from five new
local authorities worth over £300,000 in the first year. The contracts reconfirm
i-documentsystems' position as a leading provider of e-government solutions.
The Group has also reached a 3-year distribution agreement with Serco for
i-documentsystems Image-Gen suite of e-government products and services. The
basis of the agreement will allow Serco to integrate the Image-Gen environment
with vertical application solutions and enterprise information architectures
within the Government Marketplace using XML for the integration of data. This
agreement marks the recognition that i-documentsystems software is highly
adaptable for the Government Marketplace as a whole and is scaleable to meet the
demands of both a corporate and enterprise solution.
In addition, expressions of interest from the commercial sector have resulted in
the installation of a pilot system in the human resources department of the
Co-operative Wholesale Society, with the possibility of further rollout.
Revenues and cash reserves for the six months to 30 April 2002 are expected to
be in line with expectations of greater than 100% revenue growth on the same
period in 2001. The Group's pipeline continues to grow month on month as brand
awareness increases and fresh opportunities emerge. The Group is encouraged by
current progress and believes it is on track for its stated aim of reaching
profitability by the end of 2003.
-ENDS-
For further information please contact:
Andrew Fraser, CEO - i-documentsystems group plc T: 020 7427 0660
Tim Bowen, CFO - i-documentsystems group plc T: 020 7427 0660
Nadja Vetter, Cardew & Co. T: 020 7930 0777
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.