(Alliance News) - Intercede Group PLC on Friday announced a new contract win with a US federal agency, alongside noting further strong trading and upgrading its annual expectations.
Shares in Intercede were up 15% to 114.00 pence each in London on Friday morning.
The Lutterworth, England-based cybersecurity software firm said the order was for a new licence test environment.
Combined with anticipated additional conversion of its existing pipeline, Intercede said this means it now expects financial performance to be ahead of market expectations for its financial year ending on Sunday next week.
Intercede said the current market forecast for financial 2024 is revenue of GBP19.2 million, up 59% from GBP12.1 million a year earlier, and for adjusted earnings before interest, tax, depreciation and amortisation to multiply to GBP5.6 million from GBP1.3 million.
Intercede also said it creates further contracted revenue backlog for its financial 2025.
"With this momentum coinciding with the launch of our new product release, MyID MFA v5, the group is in a robust position to execute on its forthcoming plans for [financial] 2025 and beyond," the company said.
Chief Executive Officer Klaas van der Leest commented: "Once again, I am pleased to announce further traction through our partners in the US, UK, Continental Europe and Middle East, resulting in a further upgrade of market expectations for [financial] 2024.
"With this being our third raise in so many months, [financial] 2024 has been an exceptional year for the group, reflecting the quality of the group's products and services. Our pipeline continues to develop in line with our expectations and we look forward to the commencement of the new financial year."
By Greg Rosenvinge, Alliance News senior reporter
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Intercede (IGP)