Intercede experiences 'strong momentum' in FY24

8th Apr 2024 09:10

(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