Intelligent Environments Group Plc, a Sunbury-on-Thames, UK-based web-to-mainframe access company has recorded six monthly loss of 372,000 pounds ($607,000), 57.4% down on last year’s figures on revenue that rose 55.6% to 4m pounds ($6.5m).
IE is over halfway to turning itself into an e-commerce services firm, according to chairman Clive Richards. Internet-related revenue, which grew by 190%, represents over 50% of the total and the company intends to expand this to 90% within a year. The client/server business will make up the remaining 10%.
IE is moving away from its roots in integration technology towards the higher margins of applications. The company plans to develop e-commerce capabilities aimed at financial institutions to enable them to sell insurance, credit cards and individual service accounts online. It takes us up the food-chain, says chief executive Roger Willcocks.
It says it received funding of 7.4m pounds ($12.1m) in June and plans a sales and marketing drive to win market share. It also says that it plans to increase the number of sales reps from five to 20 by the end of the year, and to 40 by the end of 2000.
