IEN Intelligent Env

 

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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