Last checked at 4 Apr 2018 07:00
4 April 2018
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
Receipt of $4.0m Order
Trading Update
Intercede, the software and service company specialising in identity, credential management and secure mobility is pleased to announce that a large US Federal Government order totaling $4.0m was received on 28 March 2018. The order includes software licenses and annual support & maintenance; $2.05m (£1.46m) of which will be recognised in the financial year ended 31 March 2018.
Subject to the completion of the year end audit, revenues for the year ended 31 March 2018 are expected to be in excess of £9.0m, which is in line with market expectations and 10% higher than the previous financial year.
Following action taken to reduce the cost base by more than 20% during the second half of the financial year, gross cash balances as at 31 March 2018 totalled £2.3m.
Further detail will be provided within Intercede's final results which are expected to be published in June 2018.
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558 111
Andrew Walker, Finance Director
finnCap Tel. +44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Simon Hicks, Corporate Finance
About Intercede
Intercede is a cybersecurity company specialising in digital identities, derived credentials and access control, enabling digital trust in a mobile world.
Headquartered in the UK, with offices in the US, we believe in a connected world in which people and technology are free to exchange information securely, and complex insecure passwords become a thing of the past.
Our vision is to make the highest levels of cybersecurity available to organizations and consumers alike, solving complexity and scalability issues by managing high volumes of digital credentials.
We have been delivering trusted solutions to high profile customers for over 20 years. Our team of experts has deployed millions of identities to governments, most of the largest aerospace and defence corporations, and major financial services and healthcare organizations, as well as leading telecommunications, cloud services and information technology firms, providing industry-leading employee and customer credential management systems.
For more information visit: www.intercede.com
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.