Intercede experiences 'strong momentum' in FY24
By Iain Gilbert
Date: Monday 08 Apr 2024
(Sharecast News) - Cybersecurity firm Intercede said on Monday that it had experienced "strong momentum" in the year ended 31 March.
Intercede said full-year revenues were expected to be approximately £20.0m, up 65-66% year-on-year and 66-67% on a constant currency basis.
The AIM-listed group said the combination of higher revenues and the high operational gearing present in the business was also expected to result in improved profitability.
At year-end, gross cash balances totalled £17.2m, up from £8.3m a year earlier, while the group also noted that it has no debt.
As of 1105 BST, Intercede shares were up 2.70% at 114.0p.
Reporting by Iain Gilbert at Sharecast.com
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