We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Intercede Group Plc | IGP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 105.50 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 105.50 | 105.50 | 105.50 | 105.50 | 105.50 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 08/4/2024 12:54 by marktime1231 Confirmation from Intercede that FY24 revenues will exceed £20M, up from the recently raised expectation of £19.5M+. They are too shy to say what this means in terms of profit, but it looks like a tenfold increase to at least £6M.Noting that cash in the bank is up £9M over the year to £17M+ now, £2M has been added since Christmas. The feeling how on earth can this sort of performance be sustained is reflected in the muted share price response. Again the update is about trading and nothing about pipeline. Growth through acquisition then, but they need to buy actual sustainable profit not just potential for it. My hope that a larger US systems house might take out IGP at 150p-ish is receding. |
Posted at 22/3/2024 11:35 by marktime1231 Well done again IGP a £6M+ pbt is in the bag. And the order book is stuffed full, even if they keep warning us the good times cannot keep rolling they seem to be doing so. A nice share price jump but still only valued by the market at £65M which is daft, I think £15M or more of that is in cash. |
Posted at 10/1/2024 11:17 by lindowcross thanks for all the information posted. (Being an "arts" man myself and still working, it's difficult for me to research to assess the situation). From the information provided it seems IGP is something of an oddity, and outlier, in the tech industry in that "the core MyID credential management system is as it was then" - (thanks Rambutan2) and this hasn't been surpassed by Microsoft or other big guns despite all the advances in tech over the last decade (as outlined by Smithie6, thanks for that) |
Posted at 09/1/2024 23:09 by smithie6 "SEC’s X account hacked, sharing ‘unauthorized tweet’ regarding spot bitcoin ETF"hxxps://www.2news.co Would I be correct to say that it looks like the SEC need either an IGP product(s) or a product(s) including IGP product(s). (Even if that SEC person limited his X account posts to be from just 1 PC/laptop & that laptop had the Scandinavian ID dongle attached, which includes IGP technology, that would perhaps be one way to avoid anyone posting on his X account from a different device). (Maybe instead of that 1 guy at the SEC buying an IGP product, it would be better if X incorporated some IGP technology. Be a much bigger sale !!) |
Posted at 09/1/2024 22:43 by smithie6 This is a IT/tech/software company."All" of the IT/software sector has significantly evolved over the last decade. Facial recognition, fingerprint recognition, artificial intelligence, higher skills & technology of criminals in getting past IT security/software entry barriers, hackers getting in to the systems of companies & stealing client data, hackers getting in to companies & installing ransomware software, remote theft of money from people's bank accounts via scams/tricks. ...the whole IT sector has changed a lot since 2014. & IGP with it. And for the products that IGP produces it appears to be the world leader at present as shown by many important Govt bodies (including security) in the USA queuing up to buy IGP products. If you were hoping to see a list of the changes made to IGP products from 2014 to 2024 I doubt that anyone here could do that, but I may be wrong. |
Posted at 03/1/2024 16:52 by marktime1231 I did my own ebitda eps calculation. Now heading for £6M earnings and 58.3 million shares in issue. Going on today's announcement saying that the previous FY target guidance was £5.2M earnings and we have just added another $1M mostly immediate license revenue for not much extra work. That is 10p or so a share before adjustments.Show me how Cavendish sums get to 7.4p, which is way below even the previous earnings guidance, and a conservative outlook. I understand the worry that new business may not flood in at this rate in future, IGP need to develop the recurring subscription and services business model, but on the other hand IGP clearly has a winning product and who knows what the market opportunity may do. |
Posted at 03/1/2024 10:18 by marktime1231 Go back to the previous major announcement in December Smithie. US prime contractors bidding for work with US government agencies are doing the selling for IGP by including IGPs technology and services in their solutions. One off platform licenses, the costs of installation and maintenance plus in some cases a recurring subscription service. They said at that stage IGP were an integral component of many of the competing bids, a we-cannot-lose scenario. So IGP are selling (being sold) through multiple "channels", on a non-exclusive basis otherwise there would have been an announcement, and from the post-scripts to contract win news it seems IGP are going on to secure further business directly.I said at the time these are signals that major systems houses will see IGP as leveraging competitive advantage, a differentiator worth bringing in-house. At a forward p/e only around 10, and considering the stream of good news, this is looking like a bargain. Edit - and the first and only basket case stock in my basket of basket case stocks to turn blue. |
Posted at 07/12/2023 19:50 by smithie6 ScrutableIGP recently won a contact from a USA Govt dept for ~$8m This being with the IGP technology replacing technology of another previous supplier. And that various bidders for the overall contract included the Intercede solution, because it is viewed as the best ! And that IGP expects/hopes the contract will 'develop', expand/increase, over time. & news today of contract for $0.8m for installation. And IGP previously won a contract for ~$3.5m from a different USA Govt dept. (ie. the use/selection of Intercede by USA Govt depts is increasing; the USA Govt likes the Intercede products) Good luck with the share you are promoting but I think the real action is here. |
Posted at 24/11/2023 21:07 by somerset lad I'm not convinced anything is brewing. It may be that the strong share price movement just reflects investors thinking through the operational gearing involved in IGP growing revenues at a decent clip and keeping costs under control. There's a huge gap ("jaws") between GM and operating margin that provides an opportunity for significant operating margin expansion if the revenue growth comes through.IGP said “The ambition over the next 3-4 years is to double revenues" through organic growth and M&A. Purely for discussion (DYOR as always), let's take TTM numbers of £13.0m revenue, £934k PBT, £1.65m PAT and think what IGP might look like in 3.5 years time. Assume organic revenue growth of 12% p/a(IGP’s management is pretty conservative, so I expect they’re aiming for something materially better than 10%, more like 15-20%, but let's not get too far ahead of ourselves) for 3.5 years. £13.0m TTM revenue x 1.12 ^^ 3.5 = £19.3m. Assume costs growth of 6% p/a (with the vast majority of sales through partners, inflation falling and management very focused on cost, they might well come in below 6%). £12.066m TTM costs x 1.06 ^^ 3.5 = £14.8m. Annualised PBT in 3.5 years from organic growth = £19.3m - £14.8m = £4.5m. If IGP’s objective of doubling revenue in 3-4 years is to be met, it would need (on the assumptions of 12% revenue and 6% costs growth) to add £6.7m revenue through acquisition (£13.0m x 2 – £19.3m). (I appreciate that the aim of "doubling" revenue is broad brush, so using £6.7m is clearly spurious precision.) If we assume a post-merger operating margin of 15% on the £6.7m of hypothetical assumed revenue for the acquired business, this adds PBT of £1.0m, taking the PBT in 3.5 years to £5.5m (£4.5m organic + £1.0m acquired). (The purchase price for a business that adds PBT of £1.0m post synergies might be 13x or £13.0m, assuming that the synergies are significant. IGP currently has £9.7m gross cash and is generating cash (usually) ahead of earnings. It’s clearly beneficial for IGP to have net cash on the balance sheet because it provides assurance to large counterparties and partners, but it went into debt with the CLN so, if the acquisition opportunity arises in the near term on relatively depressed valuations, IGP could borrow modestly short term or raise a small slug of equity to support an acquisition at £13.0m.) Returning to the hypothesised PBT in 3.5 years of £5.5m, I’ll assume a tax rate of zero given the current large tax payments to IGP and the tax losses that are carried forward, giving a conservatively stated fully diluted EPS (using 62.4m shares) in 3.5 years time at 8.8p. You can pick your own PE on this hypothetical for a business that’s growing at a decent clip, generating lots of cash and benefiting from strong operational gearing. |
Posted at 23/10/2023 13:40 by somerset lad marktime, I'm less keen on selling now. IGP has large operational gearing with the potential for very rapid growth in profits as the difference between GM and operating margin closes. The management team got costs under control (letting the brakes off somewhat last year to maintain staff engagement in response to inflation, a decision I support) and is now moving into revenue growth. There's a lot of potential upside which I think should go to existing shareholders not a bidder (and hope that Azalea shares my view!).The HY TU was billed as "inline", but as Cavendish noted, this allows for the risks of US budget snarl ups. Last year a H1 "inline" was followed by a full year "outperform" on 21.1.23 and this year IGP will need a large drop off in H2 in order "only" to meet expectations when H2 is usually at least as strong as H1. IGP's H1 revenue was encouraging, up 15% to £7.0m. This needs decomposing into exchange rate (5 ppts), inorganic (the Authlogics acquisition was forecast to contribute £700k in FY24 so say £350k in H1 (5.6 ppts)) leaving organic at 4.4ppts. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
