Trading Update

i-design group plc

Trading Update

At the time of i-design's preliminary results in November 2008, the Company indicated that despite the prevailing conditions in the banking sector, discussions with potential retail bank customers remained positive. Since then, negotiations on major new contracts have been progressing well and the Company had expected to secure two new banking customers in the current financial year. However, due to these difficult conditions it is now clear that timeframes must be revised.

As a result, i-design expects the pre-tax loss for the year to 30 September 2009 to be in the region of £1.2 million. However, the Company's balance sheet remains robust, with net cash at 30 April 2009 of £1.7m. The Company has negligible borrowings. 

The Company expects to report its results for the 6 months ended 31 March 2009 on 25 June 2009.

Enquiries:

i-design group plc
T: 01382 541 041

Ana Stewart, Chief Executive
Ian Sunter, Finance Director

Biddicks
T: 020 7448 1000

Katie Tzouliadis
Sophie Lane

Arbuthnot Securities
T: 020 7012 2000

Tom Griffiths/Alasdair Younie


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