Intercede Share News (IGP)

- Sees revenues ahead of forecasts- High levels of demand across all sectors- Confident about future demandAIM-listed security software provider Intercede said it expects revenue for the year ended March 31st to be ahead of forecasts and over 40 per cent higher than last year.The group, which specialises in identity and credential management software, said financial targets were to deliver a 30% plus increase in sales. "Intercede continues to experience high levels of demand for its proprietary MyID identity and credential management technology, with notable contract wins secured in the telecommunications, aerospace & defence and public service sectors," the group said. The group said it sees increased opportunities from smart phones and global cyber security concerns. Chairman and Chief Executive Richard Parris said: "We are delighted to report record sales, substantially ahead of the challenging growth targets we set for ourselves for the year. "This performance reflects an increasing recognition by major organisations throughout the world of the critical importance of protecting the digital identities of their IP, assets and digital content. At the same time, we continue to strengthen our market position in new and emerging areas of digital security, giving us even more confidence for the future."Net cash increased from £6.8m to £7.2m year on year, despite increasing headcount by 30% and absorbing the impact of the share buyback programme.CJ