Intercede shares jump as it anticipates revenue ahead of expectations

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(Alliance News) – Intercede Group PLC on Monday said it expects revenue for the financial year 2023 to be ahead of expectations, after maintaining the momentum achieved in the first half.

For the financial year ending March 31, England-based cybersecurity software company Lutterworth now anticipates results “materially ahead of forecast”, largely due to the expectation of – income that is 5% to 8% before market guidance.

Intercede shares were trading 21% higher at 68.48 pence each in London on Monday morning.

The company’s pipeline of new business also continued to grow, with several other contract opportunities that could close before the end of the fiscal year.

Intercede added that the integration of computer security service Authlogics Ltd is on track and “well embedded”.

“I am pleased to report continued progress against our strategic plan and in particular the positive news about our group’s efforts so far in FY23. We now expect revenues and profits to be ahead than current market expectations. This is a testament to the group’s continued investment in MyID and focused execution on our ‘6C strategy’, centered around colleagues, customers, channels, code, cash and Corporate Development, ” said CEO Klaas van der Leest.

“With more than two months to go until the end of the year, the group has several opportunities to close more deals that can further improve our results.”

By Holly Beveridge; Alliance News Reporter

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