REG - Intercede Group PLC - Trading Update

IntercedeAnnouncement

10/10/2022 07:00

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RNS Number : 2580C  Intercede Group PLC  10 October 2022

Intercede Group PLC

("Intercede," "the Company" or the "Group'')

Trading Update

Intercede revenues for the six months ended 30 September 2022 totalling £6.1m
are approximately 23% higher than last year on a constant currency basis and
24% higher on a reported basis (2021: £4.9m on a reported basis). This is in
line with management expectations.

The Group had cash reserves of £10.0m as at 30 September 2022 compared to
£7.8m as at 31 March 2022 reflecting positive operating cash flow and
continued tight cost control as budgeted for FY23.

 

Following payment of approximately £2.0m initial consideration, after net
debt and working capital adjustments, relating to the acquisition of
Authlogics Ltd announced today, the Group had cash reserves of £7.9m and has
no debt.

ENQUIRIES

 Intercede Group plc              Tel. + 44 (0)1455 558111
 Klaas van der Leest              CEO
 Nitil Patel                      CFO

 finnCap Ltd                      Tel. + 44 (0)20 7220 0500
 Simon Hicks/Fergus Sullivan      Corporate Finance
 Tim Redfern/Charlotte Sutcliffe  ECM

 

For more information visit: www.intercede.com (https://www.intercede.com/)

About Intercede

Intercede is a cybersecurity company specialising in digital identities,
derived credentials and access control, enabling digital trust in a mobile
world.

Headquartered in the UK, with offices in the US, we believe in a connected
world in which people and technology are free to exchange information
securely, and complex insecure passwords become a thing of the past.

Our vision is to make the highest levels of cybersecurity available to
organisations and consumers alike, solving complexity and scalability issues
by managing high volumes of digital credentials.

 

 

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