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Market Cap: £73.70m

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Intercede prepares to close multiple contract opportunities

Mon, 03rd Apr 2023 09:09

(Sharecast News) - Cybersecurity software company Intercede said on Monday that it has several contract opportunities that could close before the end of the current financial year.

Intercede confirmed that the majority of the new opportunities had already been closed, and said it had also renewed several support and maintenance contracts.

The AIM-listed group said the total value of these contract wins/renewals was in excess of $6.0m, which will be recognised from the 2024 financial year onwards.

Intercede added that the wins/renewals included a "large" US Federal Government order totalling $3.4m for annual subscription renewal on a longstanding existing project, as well as a three-year renewal totalling $1.56m and two new contracts.

"In line with normal practice, an FY23 trading update will be provided with further detail in the coming weeks," said Intercede.

As of 0805 BST, Intercede shares were up 0.80% at 63.0p.

Reporting by Iain Gilbert at Sharecast.com