Anyone in SMRT ? Newish company.. looking good.. picked up some today myself..

Should be good news news and good for the sp I would've thought !
but....


Advanced Smartcard Technologies plc
07 June 2006

ADVANCED SMARTCARD TECHNOLOGIES
HERALDS PLATFORM FOR GROWTH

Advanced Smartcard Technologies plc (RIC: SMRT/L) ('the Company'), the Scottish
based software group specialising in smartcard technology, has today announced
its interim results for the period to 31 March 2006.

IPO in December 2005 raised 750,000 (gross).
Further 850,000 (gross) raised in March through a further placing of new shares.
Contract wins with Royal Bank of Scotland and Transport Scotland.
Further new contracts won since the half year.
Operating profit 117,000 (2005: 41,000)
Turnover 700,000 (2005: 932,000)*

* Comparative reduction in turnover due to a change in order mix, where in 2005
relatively more product was sold with lower margin hardware.

David Braddock, Chief Executive said:

' We are delighted with this half year result and have made a significant
improvement in profitability. The Company has made great strides forward in
terms of efficiency and the quality of the product we offer. We have already
seen the clear benefits of this. The Company has won contracts with new blue chip
clients and gained further orders from existing clients. We feel this represents
a real step forward for the Company and the shareholders.'

' Since the IPO in December, we have invested in our platform for growth by
strengthening our sales and marketing, and engineering teams to exploit our
chosen markets. Through this investment we are confident that we will continue
to extend the pipeline of new business. We expect this additional capability to
yield results in getting our key product, Multefile, into more deployments over
the range of our chosen markets where we can develop a significant market share
in the coming years. Since 31 March 2006 we are delighted to have won further
business with subsidiaries of The Royal Bank of Scotland Group PLC and also with
ITI Techmedia, a company set up with the support of the Scottish Executive to
drive Scotland's ambitious plans to identify and commercialise valuable
technology-based intellectual assets.'

' The contracts will develop further our business in the areas of secure
smartcard transport ticketing and anti-counterfeiting activity.'

' The marketplace for smartcards systems is massive. By using our Multefile
software, smartcard system operators can alter their services and applications,
without having to recall thousands of cards. We are pleased that this
groundbreaking software is being adopted at an early stage in a number of
significant trial projects.'

' Looking forward, the future remains bright. We are pleased with our excellent
sales prospect list. I am confident that we will continue to win new orders and
improve the Group's financial performance.'


Outlook

Looking forward, the prospects for the Group are very promising. We have an
excellent order book and sales prospect list which include many blue-chip
organisations. With the proceeds of our flotation giving us the ability to
invest in our platform for growth, we are looking to the future with confidence.
This together with the exceptional capabilities and motivation of our staff
should ensure that progress continues in the second half

Can anyone tell me how to add charts ?

it's amazing how a share sp that has a product that's touted as the next best thing since sliced bread slowly goes downhill... now well down on where I got in earlier this year.. 4.4p.... peed off or what !

ouch! another hit on the SP bid price.

May I suggest a reason?
Smart cards are an old technology IMHO, the alternative uses yr mobile phone to act as a "key" to obtain services etc. Since everyone has one, you don't need to cary an easily-lost ( but unnoticed) smart card.
When cards started they had many uses, but even Oyster ( =travel) is being overcome by phones,(( a trial is starting I understand)); so it won't be long! - plus when you pay for a service yr phone can confirm what you've bought - where a smart-card relies on trust.
Theft - sure there is a grey area but it's not that bad. Probably no worse than losing a smart-card.

skyhigh: not sure what type of chart you want, but does this help?