We are pleased to report that Intercede has achieved strong revenue growth during the first half of the financial year. This is in line with expectations and reflects continued progress with existing customers and a number of new contract wins.
First half revenues increased by more than 35% compared to the previous year from £4.0 million to approximately £5.5 million. An enlarged sales and marketing team continues to drive business expansion and during the period we have secured an enterprise-wide contract with one of the largest US healthcare corporations, sold our mobile derived credential solution to a major US Federal Agency, signed a new agreement with a US West Coast bank and made our first sale following the announcement of the Partner Agreement with Citrix on 13 May 2015.
As previously announced, we continue to invest in the recruitment and training of specialist technical professionals to ensure we remain scalable in a fast growing market. The size of the team has grown by approaching 10% year on year.
The new contracts will all yield further revenues during the current year and beyond. The strong start to the year provides a solid base to meet market expectations for the year.
Intercede Group plc
Tel. +44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Tel. + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking