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IGP Intercede Group Plc

146.50
9.00 (6.55%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Intercede Group Plc LSE:IGP London Ordinary Share GB0003287249 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  9.00 6.55% 146.50 124,938 16:21:17
Bid Price Offer Price High Price Low Price Open Price
145.00 148.00 146.50 137.50 137.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Security Systems Service 12.11M 1.31M 0.0224 65.40 80.4M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:20:53 O 10,033 149.50 GBX

Intercede (IGP) Latest News

Intercede (IGP) Discussions and Chat

Intercede Forums and Chat

Date Time Title Posts
25/7/202415:58Intercede - global leader in identity management4,514
03/3/201908:21Intercede - overlooked SMART CARD & DIGITAL ID micro cap1,090
24/10/201412:01IGP=EOr.13
19/8/200923:23Intercede, 100% losses on this hyped up tech stock36
04/8/200823:04My next tip of the year10

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Intercede (IGP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-07-26 16:30:14149.5010,03314,999.34O
2024-07-26 16:20:53145.766,8609,999.14O
2024-07-26 15:52:46145.506,7369,800.88O
2024-07-26 15:20:12143.674,3446,241.02O
2024-07-26 15:08:02143.672,0002,873.40O

Intercede (IGP) Top Chat Posts

Top Posts
Posted at 26/7/2024 09:20 by Intercede Daily Update
Intercede Group Plc is listed in the Security Systems Service sector of the London Stock Exchange with ticker IGP. The last closing price for Intercede was 137.50p.
Intercede currently has 58,474,212 shares in issue. The market capitalisation of Intercede is £85,664,721.
Intercede has a price to earnings ratio (PE ratio) of 65.40.
This morning IGP shares opened at 137.50p
Posted at 10/7/2024 18:31 by pyman
interesting share price action ... perky
Posted at 03/7/2024 10:42 by pyman
10 years ago... expectations were high... and share price was £2.20... from memory that was on the back of a microsoft partnership?
Posted at 03/7/2024 10:19 by smithie6
or perhaps it highlights to big investors the existing opportunities in the USA & Canada & also reduces the risk part in the risk/reward equation.

I wonder if Carahsoft might obtain any sales for IGP in other continents outside of north America ???

are Carahsoft global or almost solely north America ? (I'm too lazy to look !; with this price action I ain't selling any shares !)

we already knew that IGP was involved in some high volume opportunities (I think including USA police IDs & USA vehicle licence IDs &....)
...but this Carahsoft partnership perhaps helps highlight those opportunities to big investors (imo it has been big/rich investors that have pushed up the price so fast & hard; a lot of small PIs wont buy at all after a share goes up from 115p to 135p for the perceived risk of the price going back to 115p)
Posted at 02/7/2024 11:41 by ianhamo
Brokers could be walking the share price up to get a fund raise away at a good price. Acquisition imminent?
Posted at 28/6/2024 10:47 by smithie6
btw

techical issues today with the on-line client services at AJ Bell ltd
(imo AJ Bell ltd has a history of IT problems for client services......imo because they dont spend enough on it....for years it was super slow ....and problems like cancelling a limit order....or getting the cash from a cancelled limit price buy order to be creditted back to the account to allow a buy trade at best (which drives clients mad if they are sitting watching the price rise while the AJ Bell system wont let them buy (& their account has free cash to use).

hopefully not a security or hacking issue.

a) perhaps AJ Bell should get Intercede or an Intercede partner to do a security review of the AJ Bell systems

b) perhaps AJ Bell should consider whether they need to add any products from Intercede.

-----

any clients of AJ Bell that are reading, I suggest you open your account & download a pdf file for your account.

noting that the current valuation on my account is wrong, it is 2% higher than yesterday (a few £k, not £50) despite no share prices in my portfolio having moved much at all. So, clearly the portfolio valuation function on the AJ Bell system is bust at the moment. What else is bust at the moment, who knows.

------

on-line security & protection of data bases & prevention of hacking & ransomware are daily subjects in the news these days. (the NHS in parts of London are still suffering problems I think because of a ransomware problem a few weeks ago)
Posted at 26/6/2024 09:39 by smithie6
...definitely been a good day so far for the share price.

+10% :-)
Posted at 25/6/2024 12:57 by smithie6
Ianhamo
There are probably different rules for exercising options and for selling shares, except for covering the tax bill on exercise.

The rules for dirs for selling, except to cover the tax bill on exercise, are the std rules imo.

Selling by dirs is not allowed if the dirs know info is coming that would make the share price fall, they would have to hold & suffer with rest of shareholders.
Posted at 18/6/2024 16:57 by bones
Not sure everyone understands how options work! These 27p options to buy shares were granted in October 2018 to the guy. Share price at the time would have been around the same. He had a 7 year period to exercise them from 2021 to 2028. So he has now done it.

It’s completely not the case that he’s been given them on the cheap right now. He waited 6 years to exercise the right, so it’s all properly earned IMO.
Posted at 04/6/2024 12:43 by marktime1231
Not sure what you mean Smithie, I'm only reminding folk not to assume anything about future trading based on recent performance. Try not to get carried away.

When announcing bumper US orders late last year management stressed that the nature of these were one-off successes, not recurring business, and stated that they didn't expect to be able to repeat wins of that scale in future. I'm not taking a contrarian personal view, just echoing the company's own guidance. Now you could take a more optimistic view and argue that the opportunity for Intercede remains strong, and imagine that maybe management have promoted a deliberately conservative view. I am also hopeful that FY25 will be good, a beat on the conservative guidance, the share price movement since the CMD indicates shared optimism. But there is nothing so far in announcements to give confidence it will be anything like the FY24 blow out.

So it would be safer to assume that trading will settle to more normal levels. Hence my idea to regard the swollen cash pile as the result of one-off special events when deciding what to do with it. FCF this year should still be positive but nothing like last year.

I remain confident that IGP is worth 130p+ and hopefully someone else will see it as more like 150p when tabling a take out bid.
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.
Intercede share price data is direct from the London Stock Exchange

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