Intercede Group PLC Trading Update (4816P)
10 October 2023 - 5:00PM
UK Regulatory
TIDMIGP
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 GBP7.0m and were approximately 15% higher on a reported basis
(2023: GBP6.1m) and 10% higher on a constant currency basis. This
is in line with management expectations.
The Group had cash reserves of GBP9.7m as at 30 September 2023
compared to GBP8.3m as at 31 March 2023 reflecting positive
operating cash flow and continued tight control of working capital
(2022 H1: GBP10.0m pre-payment of- Authlogics initial consideration
of GBP2.0m). 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
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END
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