Intercede Group PLC Trading Update (4431B)

TIDMIGP

RNS Number : 4431B

Intercede Group PLC

08 October 2020

8 October 2020

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 further good progress during an unprecedented six-month period where colleagues, customers, partners and operations have all had to adjust to the impact of Covid-19.

Revenues for the six months ended 30 September 2020 are approximately 9% higher than last year. This is in line with expectations and reflects orders received from both new and existing customers resulting in revenues of GBP4.8m (2019: GBP4.4m).

We are also pleased to report that continued tight cost control has resulted in a positive operating cashflow during the period with cash balances as at 30 September 2020 totalling GBP8.1m compared to GBP4.8m as at 31 March 2020.

ENQUIRIES

 
 Intercede Group plc                    Tel. [phone] 
 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.

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October 08, 2020 02:00 ET (06:00 GMT)