REG - Intercede Group PLC - Trading Update

IntercedeAnnouncement

08/04/2024 07:00

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RNS Number : 5888J  Intercede Group PLC  08 April 2024

 

 

8 April 2024

INTERCEDE GROUP plc

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

Trading Update

Intercede, the leading cybersecurity software company specialising in digital
identities, today announces the following trading update for the financial
year ended 31 March 2024 ("FY24").

As outlined in the announcements of 5 December 2023, 3 January 2024 and 22
March 2024, Intercede's underlying trading performance has continued to show
strong momentum. The Group is pleased to announce that, subject to the
completion of the year end audit, revenues for FY24 are expected to be
approximately £20m (2023: £12m), 65-66% higher than FY23 and 66-67% higher
on a constant currency basis.

 

The combination of higher revenues and the high operational gearing present in
the business is expected to result in improved profitability.

 

As at 31 March 2024, gross cash balances totalled £17.2m (2023: £8.3m). The
Group has no debt.

 

Further details will be provided within Intercede's final results which are
expected to be published in June 2024.

 

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                        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)

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.

 

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