Intercede reports strong half-year revenue growth

8th Oct 2024 16:01

(Sharecast News) - Cybersecurity software company Intercede reported strong revenue growth for the six months ended 30 September in an update on Tuesday.

The AIM-traded firm said revenue was expected to reach £8.54m - a 22% increase compared to £6.99m in the first half of the 2024 financial year, and a 29% increase on a constant currency basis.

That performance was in line with management expectations.

As of 30 September, the company held gross cash balances of £16.2m, up from £9.7m at the same time last year.

At the end of March, cash balances stood at £17.2m, and the group remained debt-free.

Further details would be provided in Intercede's final first-half results, which were scheduled for release on 26 November.

At 1542 BST, shares in Intercede Group were down 3.59% at 190.9p.

Reporting by Josh White for Sharecast.com.