Record results for IntelliQ

30 Apr 09

Sales for the quarter ended March 31, 2009, were £699,216 (2008: £427,836), a record increase of 63 per cent year on year. Operating profits for the quarter were £216,731 (2008: £26,700) an increase of over 711 per cent on the equivalent period last year.

A statement said: “The sales performance has been driven by the gradual and consistent uptake of IntelliQ solutions worldwide, as enlightened retailers have tackled shrinkage and its causes. The British Retail Consortium and KPMG’s UK Retail Sales Monitor showed a decline in like-for-like sales of 1.8 per cent and the US Census Bureau is reporting a decline in like for like sales of 8.6 per cent across the same period of time.”

During this quarter IntelliQ closed three new significant license agreements with Claire’s Accessories in the US and Europe, EAT in the UK, Karstadt in Germany.

Malcolm Peden, CEO at IntelliQ, said: “A key part of our sales strategy last year was the provision of a free analysis of Point of Sale data – ‘Data Challenge’ – for prospective clients. The result of this provides prospective clients with some immediate intelligence on areas for improvement helping build a sound business case for investment in these difficult times.”

Non-executive director Richard Henderson, from MTI, IntelliQ’s major investor, said: “The business has a significant pipeline of opportunity for the rest of this year and has a top quality customer base. We are very excited about the prospects for IntelliQ.”

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