LONDON (ShareCast) - Intercede said its new financial year has started strongly with revenues doubling on an annualised basis.
The secure identity and credential management group posted revenues in the first quarter of £2.7m, the double of same time last year and an increase of 34% from the last quarter of the last financial year.

During the quarter, Intercede secured a contract with one of the largest US healthcare corporations. It also sold its mobile derived credential solution and signed a new agreement with a US West Coast bank.

"These contracts will all yield further revenues during the current year and beyond. The strong start to the year provides a solid base to meet market expectations for the year," Intercede said in a statement.

FinnCap analysts said the update provides "credibility for unchanged full-year expectations", supported by "recognised contracts delivering further revenue in both the current year and beyond".

Shares jumped 6.5% to 101p on Monday at 1324 BST.

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