Last checked at 4 Oct 2018 07:00
4 October 2018
Intercede Group plc
("Intercede" or the "Company")
Trading Update
Intercede, the leading specialist in digital identity, credential management and secure mobility, is pleased to report that revenues for the six months ended 30 September 2018 (HY2018) are more than 10% higher than last year.
This is in line with expectations and reflects a strong end to the half with orders received from both new and existing customers resulting in revenues for HY2018 of £4.1m (2017: £3.65m).
Coupled with action taken to reduce the cost base prior to the start of the financial year, operating losses for HY2018 are substantially reduced to less than £1.0m (2017: £3.1m).
Cash balances as at 30 September 2018 totalled £3.6m, compared to £2.3m as at 31 March 2018 and reflect a positive operating cashflow during the period, plus the receipt of £1.0m from HMRC in respect of the 2017/18 Research & Development Claim.
ENQUIRIES
Intercede Group plc | Tel. +44 (0)1455 558111 |
Klaas van der Leest, Chief Executive 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.