Intercede Group PLC Trading Update (3417W)
17 Abril 2023 - 1:00AM
UK Regulatory
TIDMIGP
RNS Number : 3417W
Intercede Group PLC
17 April 2023
17 April 2023
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
Trading Update
Intercede, a cybersecurity software company specialising in
digital identities, provides an update on trading for the year
ending 31 March 2023 ("FY23").
As outlined in the announcements of 23 January 2023 and 3 April
2023, Intercede's underlying trading performance has continued to
show strong momentum. The Group is pleased to announce that,
subject to the completion of the year end audit, revenues for FY23
are expected to be just over GBP12.0m (2022: GBP9.9m),
approximately 21-22% higher than FY22 (12-13% higher on a constant
currency basis) and, as announced on 23 January 2023, ahead of
market forecasts(1) .
The combined effect of increased revenues and tight management
of costs under the Group's control, is expected to result in
improved profitability, subject to completion of the year end
audit.
As at 31 March 2023, gross cash balances totalled GBP8.3m (2022:
GBP7.8m). This is after a cash outflow of approximately GBP2.3m
relating to the acquisition of Authlogics, announced on 10 October
2022. The Group has no debt.
Further details will be provided within Intercede's final
results which are expected to be published in June 2023.
(1) The Board consider the current consensus analyst forecasts
for the year ended 31 March 2023, prior to this announcement, to be
revenues of GBP11.9m and adjusted EBITDA of GBP1.0m. Adjusted
EBITDA is defined as earnings before interest, taxation,
depreciation, amortisation, IFRS 16, share based adjustments and
non-recurring exceptionals.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
ENQUIRIES
Intercede Group plc Tel. + 44 (0)1455 558111
Klaas van der Leest CEO
Nitil Patel CFO
finnCap Ltd Tel. + 44 (0)20 7220 0500
Simon Hicks/Fergus Sullivan Corporate Finance
Tim Redfern/Charlotte Sutcliffe ECM
About Intercede
Intercede is a cybersecurity software company specialising in
digital identities, and its innovative solutions enable
organisations to protect themselves against the number one cause of
data breach: compromised user credentials.
The Intercede suite of products allows customers to choose the
level of security that best fits their needs, from Secure
Registration and ID Verification to Password Security Management,
One-Time Passwords, FIDO and PKI. Uniquely, Intercede provides the
entire set of authentication options from Passwords to PKI,
supporting customers on their journey to passwordless and stronger
authentication environments. In addition to developing and
supporting Intercede software, the Group offers professional
services and custom development capabilities as well as managing
the world's largest password breach database.
For over 20 years, global customers in government, aerospace and
defence, financial services, healthcare, telecommunications, cloud
services and information technology have trusted Intercede
solutions and expertise in protecting their mission critical data
and systems at the highest level of assurance.
For more information visit: www.intercede.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTSFSFMMEDSEIL
(END) Dow Jones Newswires
April 17, 2023 02:00 ET (06:00 GMT)
Intercede (LSE:IGP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Intercede (LSE:IGP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024