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RNS – Trading Update FY24

Phil Edge October 10th 2023 Investor News, RNS

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

Trusted by Governments and Enterprises Worldwide

Where protecting systems and information really matters, you will find Intercede.  Whether its citizen data, aerospace and defence systems, high-value financial transactions, intellectual property or air traffic control, we are proud that many leading organisations around the world choose Intercede solutions to protect themselves against data breach, comply with regulations and ensure business continuity.