REG - Intercede Group PLC - Half-year Report
26/11/2024 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241126:nRSZ5835Na&default-theme=true
RNS Number : 5835N Intercede Group PLC 26 November 2024
26 November 2024
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
Interim Results for the Six Months Ended 30 September 2024
Double-digit revenue growth in H1, with an expanding and geo-diversified
pipeline, puts Intercede on track to meet market expectations for the year
ending 31 March 2025
Intercede, the leading specialist in digital identity, credential management
and secure mobility, is pleased to announce its interim results for the six
months ended 30 September 2024.
Financial Highlights
H1 FY25 H1 FY24 % Change
£ million £ million
Revenue 8.54 7.0 22%
Gross profit 8.2 6.9 19%
Profit before Tax 1.7 1.1 55%
Taxation - credit - 0.5 -100%
Net Profit 1.7 1.6 6%
EPS - basic 2.8p 2.7p
EPS - diluted 2.7p 2.5p
Gross Margin 96.4% 99.0% -3%
Net Margin 20.0% 22.0% -2%
Cash and cash equivalents 16.2 9.7 67%
Net cash (used in) / generated from operating activities -0.4 1.7 -124%
Deferred revenue 6.3 5.4 17%
Total Assets 25.0 16.8 49%
Total Equity 15.0 8.7 72%
Adjusted EBITDA 1.8 1.5 20%
Less:
Amortisation of intangibles 0.1 0.1
Depreciation of assets 0.1 0.0
Right-of-use depreciation 0.1 0.1
Acquisition costs 0.0 0.1
Employee Share / Unit incentive & option plan charges 0.1 0.1
Exceptional costs 0.1 0.1
Operating Profit 1.3 1.0 30%
Revenue highlights for the period include:
· Revenues for the six months ended 30 September 2024 (H1) totalling
£8.54 million are 22% higher on a reported basis (2023: £7.0 million). On a
constant currency basis revenue was up by 29%
· A large US Federal Government order for MyID CMS licence sales and
associated support and maintenance. The order also incorporates a subscription
element with third party embedded product
· An enhanced professional services order with an existing client in
the US Federal space to further assist in the deployment of a large scale MyID
CMS
· An enhanced professional services order with an existing client in
the US Federal space to assess and assist in a future deployment of MyID CMS
· A Department of State (DoS) order for MyID CMS licence sales and
associated support and maintenance
· A significant MyID PSM subscription renewal and expansion for an NHS
Trust, over three years commencing 1 April 2024
· MyID MFA/PSM orders in the EMEA region included a cyber security
platform services provider, a petrochemical supplier, an initial POC with a
middle eastern airline and major renewal with an education establishment.
Operating Highlights
· Group's flagship product MyID CMS v12.11 and v12.12 were released in
June and September respectively providing:
o Apple Mac client support for self-service collection and management of
YubiKeys and other smart cards with a PIV Applet (MyID CMS v12.11)
o Authentication from Microsoft Entra and other external identity provider
to credential management processes in the MyID Self-Service App, (MyID CMS
v12.12)
o Support for MyID hosted in Amazon Web Services, including use of Amazon
RDS for SQL Server (MyID CMS v12.12)
· Ongoing expansion and geographic diversification of overall pipeline
with weighted pipeline materially ahead of last year
· Upgrades and go lives to recent software versions include large
American defence contractors, European banks, conglomerates as well as APAC
government agencies
· Intercede and Microsoft Join Forces to Streamline FIDO Passkey
Management for the Enterprise per the RNS Reach dated 19 August 2024
· MyID MFA partner agreement with Carahsoft (per RNS dated 26 June
2024) for USA distribution
· MyID MFA v5.06 with multi-tenancy release and specific features for
Managed Service Providers (MSP) which went live at the end of H1 in Germany,
per the RNS dated 24 September 2024
· Internal IT infrastructure upgrades continues with much of the
back-office infrastructure now in Microsoft Azure Cloud.
Royston Hoggarth, Chairman, said:
"I am pleased to state that the Group is achieving its key objectives of
delivering double digit growth both in revenue (adjusting for the exceptional
licence order in December 23) and profit before tax. Furthermore, today we
announce our new standalone product MyID SecureVault which already has
significant client and prospect interest, emphasising not only the
capabilities of the Group but also its ability to seek and nurture new market
opportunities.
With strategic investment in products and colleagues being maintained, I am
also pleased at the level of commitment and talent our colleagues give in
helping to deliver and achieve the Group's growth ambitions.
The momentum we had in FY24 has, on a like for like basis, further grown in
FY25 and our results illustrate that. As the pipeline diversifies and expands,
we are in a strong position to achieve our financial performance goals for
FY25.
Following on from the UK Budget and conclusion of the American elections, we
hope there is now more stability in the macro-economic environment in the
coming years."
ENQUIRIES
Intercede Group plc Tel. + 44 (0)1455 558111
Klaas van der Leest CEO
Nitil Patel CFO
Cavendish Capital Markets Limited (Nomad & Broker) Tel. + 44 (0)20 7220 0500
Marc Milmo/Fergus Sullivan/Rory Sale Corporate Finance
Tim Redfern/Ondraya Swanson Corporate Broking
About Intercede
Intercede is a cybersecurity software company specialising in digital
identities and strong authentication, and its innovative solutions enable
organisations to protect themselves against the number one cause of data
breach: compromised user credentials.
The Intercede suite of products allows customers to choose the level of
security that best fits their needs, from Secure Registration and ID
Verification to Password Security Management, One-Time Passwords, FIDO and
PKI. Uniquely, Intercede provides the entire set of authentication options
from Passwords to PKI, supporting customers on their journey to passwordless
and stronger authentication environments. In addition to developing and
supporting Intercede software, the Group offers professional services and
development capabilities as well as managing the world's largest password
breach database.
For over 25 years, global customers in government, aerospace and defence,
financial services, healthcare, telecommunications, cloud services and
information technology have trusted Intercede solutions and expertise in
protecting their mission critical data and systems at the highest level of
assurance.
For more information visit: www.intercede.com (http://www.intercede.com)
The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as
it forms part of UK domestic law by virtue of the European Union (Withdrawal)
Act 2018 ("MAR"), and is disclosed in accordance with the company's
obligations under Article 17 of MAR.
The period in review
Following an exceptional FY24, the Group entered FY25 with the clear goals of
double-digit growth and to maintain the momentum, and the H1FY25 results
underpin this. With quarterly product releases, new partnerships and the
launch of MyID SecureVault, the Group is maintaining its growth momentum which
is a positive sign for H2 and beyond.
Market Opportunity and Innovation
Intercede's MyID IDCMS platform is a leading credential management system
(CMS) and identity verification (ID) solution that integrates and manages a
broad range of PKI (Public Key Infrastructure) and FIDO (Faster Identity
Online) technologies. These are very attractive, but niche, market segments
which meet the needs of large organisations, such as Aerospace & Defence
contractors, and governments who are prepared to pay for military grade
security and can cope with the complex infrastructure.
For Intercede this is a blessing, due to the potential for large initial
one-off licence orders and steady recurring Support & Maintenance, but it
can also present a challenge as the timing of contract awards are invariably
outside of Intercede's control.
For the Group's growth to be sustained, Intercede needed to expand faster and
broaden MyID's functionality and increase its addressable market and has done
so with the addition of MyID MFA and MyID PSM, following the acquisition of
Authlogics Ltd.
Intercede is also expanding the MyID Solutions set further and is pleased to
announce today a new standalone product: MyID SecureVault.
Launch of New Product - MyID SecureVault
MyID SecureVault will be available early 2025. Driven by customer demand, it
enables the secure generation and storage of private keys (e.g. those used for
encrypting emails). When combined with a credential management system such as
MyID CMS, this new product enables their secure recovery to new or replacement
devices ensuring encrypted emails can continue to be read.
Crucially, MyID SecureVault places customers in control of their own keys and
offers independence from key storage provided by a PKI provider, simplifying
the process of transitioning between providers and avoiding vendor lock-in.
MyID SecureVault will be available as a standalone product that integrates
with the MyID CMS and is available on a subscription basis only. Having
already marketed this new product, we are pleased to have already created
significant prospect and client interest in this product and how it will
provide the Group with potential future growth opportunities.
Innovation
A critical evaluation of new forms of technologies is essential for the
ongoing development of MyID Solutions and for the growth opportunities of the
Group. Intercede is assessing the following key technology innovations in the
coming years.
Quantum Cryptography
As post-quantum computing starts to become a reality, it will pose a security
threat to the established cryptographic algorithms utilised by PKI solutions
to protect data and access to systems.
Intercede follows cryptographic standards as advised by NIST and is currently
engaged with device vendors (e.g. hardware security module vendors and smart
card manufacturers) who are at the forefront of implementing NIST specified
quantum resistant algorithms to add support for them into the MyID product
family.
A key capability of the MyID CMS is its cryptoagility, which provides our
customers a way of transitioning between cryptographic algorithms, offering
them a path towards post-quantum security and maintaining compliance with NIST
security standards as they are updated. MyID CMS again underlines it's no
vendor lock-in principle.
Artificial Intelligence
An important function of the technology office at Intercede is to research new
technologies and advise on where they can add real value to our customer base.
One such technology is Artificial Intelligence. Multiple potential use cases
are currently being investigated including:
· The use of AI to recommend better passwords, taking our product MyID
PSM capabilities beyond advising 'your password is known to be compromised' to
a 'your password is likely to become compromised'
· Using AI to spot patterns in audit logs from multiple systems and
recognise patterns, e.g., to assist with fault diagnosis or spot abnormal
operator behaviour
· Providing a 'conversational style' interface to finding information
within the product documentation and knowledge base
MyID SecureVault, Capitalisation and change in R&D tax credit
With the launch of MyID SecureVault, the Group will look to apply its
accounting policy on Research & Development (R&D) costs. The
accounting treatment is being considered and will be finalised by 31 March
2025. If the MyID SecureVault development expenditure meets the IFRS
recognition criteria then it will be capitalised, albeit the value of any
capitalised cost is likely to be below materiality level.
The Group has traditionally elected to utilise R&D tax credits as a cash
repayment rather than carrying forward the taxable losses. With the recent
changes to the UK R&D legislation, and having regard to the Group's
current cash position, the Board believes it may be more tax efficient to
maximise taxable losses carried forward by electing to repay last year's
R&D cash receipt. If this approach is adopted then the impact on the
current year's taxation will be a tax repayment of the previous year's claim
plus interest accrued (being £0.5m).
M&A
Intercede has a disciplined and strict criteria approach to its M&A
strategy and during the period it has been engaged in numerous conversations
and reviewed a number of potential acquisition targets. Intercede has
primarily focussed on companies that have product offerings that are mainly in
adjacent market segments to the MyID Solutions and/or address the alternative
faces of the Authentication pyramid.
Although the Group has not chosen to progress any of the initial conversations
held to date, it remains confident that the strategy is the correct one to
pursue. The Board will maintain its disciplined approach and continue
engagement across the various M&A opportunities it sees. The Board believe
this is an ongoing work in progress plan that supports the Group's overall
strategic direction.
Financial Review - Income Statement
Revenue and operating results
The Group's revenue from continuing operations increased by 22% to £8.54
million (2023: £7.0 million) and gross profit increased by 19% to £8.2
million (2023: £6.9 million). Gross margin decreased from 99% to 96.4% as a
third-party product was part of a significant licence sale in the period.
The Group's operating profit was £1.3 million (2023: £1.0 million), after
non-cash depreciation charge for property, plant and equipment in the period
of £0.1 million (2023: £Nil) and a right-of-use depreciation charge of £0.1
million (2023: £0.1 million). Acquisition costs for the period were £Nil
(2023: £0.1 million). During the period, no acquisitions were completed, and
the Group continues to pursue a disciplined approach to deal pricing, due
diligence and execution to ensure the right strategic fit(s), so the Group can
scale and accelerate revenue growth further.
Operating expenses increased by 15% to £6.9m (2023: £6.0m) reflecting
continued planned strategic investment in product development of MyID
Solutions, investment in IT infrastructure and increased salary expense from
new headcount and commission payments associated with higher revenue. As a
percentage, operating expense represented 81% of revenue (2023: 85%).
Staff costs represent the main area of Group costs representing 77% of total
operating costs (2023: 79%). Intercede had 108 employees and contractors as at
30 September 2024 (99 as at 30 September 2023). The average number of
employees and contractors during the period was 107 (2023: 96).
The statutory profit before tax for the period was £1.7 million (2023: £1.1
million) and profit for the period was £1.7 million (2023: £1.6 million),
with an R&D tax credit of £Nil for the period (2023: credit of £0.5
million).
Taxation
The Group did not claim a tax credit during the period from HMRC in respect of
its R&D claim (2023: tax credit of £0.5 million) and has instead elected
to carry forward taxable losses. The Group has brought forward unused tax
losses of £3.9 million (2023: £7.0 million) and is currently considering the
option to reopen the prior year tax return, repay the prior year tax credit
(being £0.5m, including interest accrued) and instead carry forward the
associated taxable losses.
Earnings per share
Earnings per share from continuing operations in the period was 2.8 pence for
basic and 2.7 pence for diluted (2023: 2.7 pence for basic and 2.5 pence for
diluted) and were based on the profit for the period of £1.7 million (2023:
£1.6 million) with a basic weighted average number of shares in issue during
the period of 58,457,769 (2023: 58,231,712 shares). For diluted the weighted
average number was 62,429,062 (2023: 62,429,062).
Adjusted earnings per share from continuing operations in the period was 3.1
pence for basic and 2.9 pence for diluted (2023: 2.6 pence for basic and 2.5
pence for diluted) and were based on an Adjusted EBITDA for the period of
£1.8 million (2023: £1.5 million).
Dividend
The Board is not proposing a dividend (2023: £Nil).
Financial Position
Assets
Non-current assets of £4.2 million (2023: £3.4 million) mainly comprise
goodwill arising on acquisition of £2.4 million (2023: £2.4 million) and
other intangible assets of £0.5 million (2023: £0.7 million) both arising
from the acquisition of Authlogics Ltd ("Authlogics") in early October 2022.
There is also property, plant and equipment of £0.6 million (2023: £0.2
million) and IFRS 16 right-of-use assets of £0.6 million (2023: £0.1
million), both of which have increased mainly due to the opening of the new US
Reston office.
Trade and other receivables of £4.7 million is higher than the prior period
(2023: £3.6 million) reflecting good licence orders from US Federal customers
Liabilities
Current liabilities increased by £1.6 million to £8.7 million (2023: £7.1
million) mainly dure to deferred revenue at the period end.
Non-current liabilities of £1.3 million have increased compared to the prior
period (2023: £1.0 million) due to the increase in non-current lease
liabilities from the opening of the new US Reston office.
Capital and Reserves
Total equity increased by £6.3 million to £15.0 million (2023: £8.7
million), reflecting the record profit posted in the second half of FY24.
Liquidity and capital resources
The Group remains in a robust financial position, with gross cash balances of
£16.2 million as at 30 September 2024 compared to £9.7 million held at 30
September 2023. This increase reflects the record profit delivered in the
second half of FY24, underpinned by strong license orders, and good management
of working capital movements thanks to the tight management of debtors.
Outlook
MyID CMS, our flagship product, has continued to grow both in terms of
capabilities (v12.12 and v12.13) and market, as our revenue figures
illustrate. Again, the Group has various opportunities in the pipeline which,
when converted, have the ability to solidify and embed the growth ambitions of
the Group in the coming years.
The release of v5.06 and partnership with Riverbird for the MyID MFA product,
has shown the Group can assimilate an acquisition and integrate it. We remain
optimistic in the opportunities the Group has in this market and we will
continue to enhance and further expand the functionalities of MyID MFA and
MyID PSM.
The Group launched a £1m gross share buy back after the period end, and with
the change in use of R&D tax credits going forward, it is managing the
long-term financial position in conjunction with continuing to manage working
capital requirements efficiently. The Company's overall pipeline has continued
to expand and geo-diversified with the weighted pipeline being materially
ahead of last year and together with no debt and a strong cash position the
Group has the foundations in place to build and grow for the future, both
organically and through M&A.
By order of the Board
Klaas van der
Leest
Nitil Patel
Chief Executive
Officer
Chief Financial Officer
26 November 2024
Consolidated Statement of Comprehensive Income - unaudited
6 months ended 6 months ended Year ended
30 September 2024 30 September 2023 31 March
2024
£'000 £'000 £'000
Continuing operations
Revenue 8,542 6,993 19,963
Cost of sales (306) (66) (560)
__________ __________ __________
Gross profit 8,236 6,927 19,403
Operating expenses (6,916) (5,967) (14,138)
__________ __________ __________
Operating profit 1,320 960 5,265
Finance income 392 149 393
Finance costs (47) (12) (63)
__________ __________ __________
Profit before tax 1,665 1,097 5,595
Taxation - 453 428
__________ __________ __________
Profit for the period 1,665 1,550 6,023
__________ __________ __________
Total comprehensive income attributable to owners of the parent company 1,665 1,550 6,023
__________ __________ __________
Earnings per share (pence)
- basic 2.8p 2.7p 10.3p
- diluted 2.7p 2.5p 9.6p
__________ __________ __________
Consolidated Financial Position - unaudited
As at As at As at
30 September 2024 30 September 2023 31 March
2024
£'000 £'000 £'000
Non-current assets
Goodwill arising on acquisition 2,442 2,442 2,442
Other intangible assets 524 698 611
Property, plant and equipment 557 190 399
Right-of-use assets 631 144 709
___________ ___________ __________
4,154 3,474 4,161
___________ ___________ __________
Current assets
Trade and other receivables 4,659 3,600 4,307
Cash and cash equivalents 16,204 9,724 17,226
___________ ___________ __________
20,863 13,324 21,533
___________ ___________ __________
Total assets 25,017 16,798 25,694
___________ ___________ __________
Equity
Share capital 588 584 584
Share premium 5,552 5,430 5,430
Merger reserve 1,508 1,508 1,508
Retained earnings 7,367 1,149 5,656
___________ ___________ __________
Total equity 15,015 8,671 13,178
___________ ___________ __________
Non-current liabilities
Lease liabilities 497 143 631
Contingent consideration - 151 160
Deferred revenue 833 703 667
___________ ___________ __________
1,330 997 1,458
___________ ___________ __________
Current liabilities
Lease liabilities 187 121 173
Contingent consideration 169 282 282
Trade and other payables 2,825 2,007 2,686
Deferred revenue 5,491 4,720 7,917
___________ ___________ __________
8,672 7,130 11,058
___________ ___________ __________
Total liabilities 10,002 8,127 12,516
___________ ___________ __________
Total equity and liabilities 25,017 16,798 25,694
___________ ___________ __________
Consolidated Statement of Changes in Equity - unaudited
Share capital Share premium Merger reserve Accumulated Total equity
deficit/
Retained
Earnings
£'000 £'000 £'000 £'000 £'000
At 1 April 2024 584 5,430 1,508 5,656 13,178
Purchase of own shares - - - (36) (36)
Issue of new shares 4 122 - - 126
Employee share option plan charge - - - 55 55
Employee share incentive plan charge - - - 27 27
Profit for the period and total comprehensive income - - - 1,665 1,665
________ ________ ________ __________ _______
At 30 September 2024 588 5,552 1,508 7,367 15,015
________ ________ ________ __________ _______
At 1 April 2023 584 5,430 1,508 (492) 7,030
Purchase of own shares (27) (27)
Issue of new shares - - - 95 95
Employee share incentive plan charge - - - 23 23
Profit for the period and total comprehensive income - - - 1,550 1,550
________ ________ ________ __________ _______
At 30 September 2023 584 5,430 1,508 1,149 8,671
________ ________ ________ __________ _______
At 1 April 2023 584 5,430 1,508 (492) 7,030
Purchase of own shares - - - (54) (54)
Employee share option plan charge - - - 134 134
Employee share incentive plan charge - - - 45 45
Profit for the period and total comprehensive income - - - 6,023 6,023
________ ________ ________ __________ _______
At 31 March 2024 584 5,430 1,508 5,656 13,178
________ ________ ________ __________ _______
Consolidated Cash Flow Statement - unaudited
6 months ended 30 September 2024 6 months ended 30 September 2023 Year ended
31 March
2024
£'000 £'000 £'000
Cash flows from operating activities
Profit for the period 1,665 1,550 6,023
Taxation - (453) (428)
Finance income (392) (149) (393)
Finance costs 47 12 63
Depreciation of property, plant & equipment 82 38 84
Depreciation of right-of-use assets 78 118 196
Amortisation 87 87 174
Exchange gains on foreign currency lease liabilities (41) (1) (24)
Employee share option plan charge 55 95 134
Employee share incentive plan charge 27 23 45
Employee unit incentive plan charge / (credit) 4 (5) 13
Employee unit incentive plan payment - - (14)
(Increase) / decrease in trade and other receivables (131) 1,882 1,218
Increase in trade and other payables 135 41 721
(Decrease) / increase in deferred revenue (2,260) (2,114) 1,046
____________ ____________ __________
Cash (used in) / generated from operations (644) 1,124 8,858
Finance income 279 145 403
Finance costs on leases (47) (18) (60)
Tax received - 453 428
____________ ____________ __________
Net cash (used in) /generated from operating activities (412) 1,704 9,629
____________ ____________ __________
Investing activities
Purchases of property, plant and equipment (240) (102) (358)
Contingent consideration paid on purchase of business (273) - -
____________ ____________ __________
Cash used in from investing activities (513) (102) (358)
____________ ____________ __________
Financing activities
Purchase of own shares (36) (27) (54)
Proceeds from issue of ordinary share capital 126 - -
Principal elements of lease payments (79) (199) (279)
____________ ____________ __________
Cash generated from / (used in) financing activities 11 (226) (333)
____________ ____________ __________
Net (decrease) / increase in cash and cash equivalents (914) 1,376 8,938
Cash and cash equivalents at the beginning of the period 17,226 8,334 8,334
Exchange (loss) / gain on cash and cash equivalents (108) 14 (46)
____________ ____________ __________
Cash and cash equivalents at the end of the period 16,204 9,724 17,226
____________ ____________ __________
Notes to the Consolidated Accounts
For the period ended 30 September 2024
1 Preparation of the interim financial statements
These interim financial statements have been prepared in accordance with
International Accounting Standards in conformity with the requirements of the
Companies Act 2006 and with those parts of the Companies Act 2006 applicable
to companies reporting under International Financial Reporting Standards
(IFRS).
The basis of preparation and accounting policies used in preparation of these
interim financial statements have been prepared in accordance with the same
accounting policies set out in the Group's Annual Report for the year ended 31
March 2024, which provides full details of significant judgements and
estimates used in the application of the Group's accounting policies. There
have been no significant changes to these judgements and estimates during the
period which included an assessment that the going concern basis continues to
be appropriate in preparing the interim financial statements.
These interim financial statements have not been audited and do not constitute
statutory accounts as defined in Section 434 of the Companies Act 2006.
Statutory accounts for the year ended 31 March 2024 have been delivered to the
Registrar of Companies. The Auditors' Report on those accounts was unqualified
and did not contain any statement under Section 498 (2) or (3) of the
Companies Act 2006.
This Interim Report is available on the website (www.intercede.com) and at the
registered office: Intercede Group plc, Lutterworth Hall, St Mary's Road,
Lutterworth, Leicestershire, LE17 4PS.
2 Revenue
All of the Group's revenue, operating profits and net assets originate from
operations in the UK. The Directors consider that the activities of the Group
constitute a single business segment.
The split of revenue by geographical destination of the end customer can be
analysed as follows:
6 months ended 6 months ended Year ended
30 September 2024 30 September 2023 31 March
2024
£'000 £'000 £'000
UK 174 181 388
Rest of Europe 515 601 1,172
Americas 7,182 5,752 17,492
Rest of World 671 459 911
___________ ___________ _________
8,542 6,993 19,963
___________ ____________ __________
3 Taxation
Taxation represents the net effect of amounts receivable from HMRC in respect
of R&D claims and US corporation tax payable.
4 Earnings per share
The calculations of earnings per ordinary share are based on the profit for
the period and the weighted average number of ordinary shares in issue during
each period.
6 months ended 6 months ended Year ended
30 September 2024 30 September 2023 31 March
2024
£'000 £'000 £'000
Profit for the period 1,665 1,550 6,023
___________ ___________ __________
Number Number Number
Weighted average number of shares 58,457,769 58,231,712 58,231,712
- basic
- diluted 62,429,062 62,429,062 62,429,062
___________ ___________ __________
Pence Pence Pence
Earnings per share 2.8p 2.7p 10.3p
- basic
- diluted 2.7p 2.5p 9.6p
___________ ___________ __________
The weighted average number of shares used in the calculation of basic and
diluted earnings per share for each period were calculated as follows:
6 months ended 6 months ended Year ended
30 September 2024 30 September 2023 31 March
2024
Number Number Number
Issued ordinary shares at start of period 58,363,357 58,363,357 58,363,357
Effect of treasury shares (131,645) (131,645) (131,645)
Effect of issue of ordinary share capital 226,057 - -
___________ ___________ __________
Weighted average number of shares 58,457,769 58,231,712 58,231,712
- basic
___________ ___________ __________
131,645 131,645 131,645
Add back effect of treasury shares
Effect of share options in issue 3,839,648 4,065,705 4,065,705
___________ ___________ __________
Weighted average number of shares 62,429,062 62,429,062 62,429,062
- diluted
___________ ___________ __________
5 Dividend
The Directors do not recommend the payment of a dividend.
ENDS
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR VELFLZFLFFBKRecent news on Intercede
See all newsRCS - Intercede Group PLC - Intercede Collaborates with Microsoft and Yubico
AnnouncementREG - Intercede Group PLC - Trading Update
AnnouncementREG - Intercede Group PLC - Momentum maintained with New Contract Orders
AnnouncementREG - Intercede Group PLC - Holding(s) in Company
AnnouncementREG - Intercede Group PLC - Director/PDMR Shareholding
Announcement