News Release from: ID Data
Edited by the Electronicstalk Editorial Team on 12 November 2002
Turnover up and losses down for ID Data
ID Data has reported its interim results for the six months ended 30th September 2002.
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ID Data has reported its interim results for the six months ended 30th September 2002. Turnover for the first half of the year was GBP 10.4 million, an increase on the same period in the previous year of 45%. Loss before exceptional costs decreased to GBP 1.3 million from a loss of GBP 2.8 million for the same period last year.
Commenting on the interim results, Peter Cox, Chief Executive of ID Data said: "Despite overall market conditions ID Data is the only quoted company in the Smart and associated card sector to demonstrate real growth and improved profitability during this period".
Chairman Mike Blackburn said: "We view the future with appropriate caution, based on our assessment of the current situation in the industry overall.
All our major publicly quoted competitors have reported lower sales against their comparative periods and are recording significant losses.
Signs of a general upturn are not presently visible.
It is to be hoped that the recent cut in US interest rates will revive the global economy and generate the confidence to make investment decisions in our sectors of activity.
Meanwhile the board continues to evaluate the future of all our business streams with the intention of moving towards profitability".
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