LONDON (SHARECAST) - Encryption specialist nCipher gave an upbeat assessment of its prospects despite profit halving in the first half of the year.

The group, which had a 300p per share cash bid from US firm Safenet blocked by the OFT, saw profits slide from £1.55m to £719,000, with the trading businesses sliding into a loss of £300,000.

nCipher blamed the losses on write-offs arising from the acquisition of software company Abridean, losses from Abridean and other one-offs totalling £627,000...

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