REG - Intercede Group PLC - Trading Update

IntercedeAnnouncement

10/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231010:nRSJ4816Pa&default-theme=true

RNS Number : 4816P  Intercede Group PLC  10 October 2023

 

 10 October 2023

INTERCEDE GROUP plc

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

 

Trading Update

 

Intercede, a leading cybersecurity software company specialising in digital
identities, provides an update on trading for the first half of the year to
30 September 2023.

Intercede revenues grew, across all segments, for the six months to £7.0m and
were approximately 15% higher on a reported basis (2023: £6.1m) and 10%
higher on a constant currency basis. This is in line with management
expectations.

The Group had cash reserves of £9.7m as at 30 September 2023 compared to
£8.3m as at 31 March 2023 reflecting positive operating cash flow and
continued tight control of working capital (2022 H1: £10.0m pre-payment of-
Authlogics initial consideration of £2.0m). The Group has no debt.

 

Further details will be provided within Intercede's interim results, which are
expected to be published in November 2023.

 

ENQUIRIES

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

 Cavendish Capital Markets Limited  Tel. + 44 (0)20 7220 0500
 Simon Hicks/Fergus Sullivan        Corporate Finance
 Tim Redfern/Charlotte Sutcliffe    ECM

 

About Intercede

Intercede is a cybersecurity software company specialising in digital
identities, 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
custom development capabilities as well as managing the world's largest
password breach database.

 

For over 20 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)

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  TSTFSIFUUEDSELS