Intercede Group PLC Receipt of $4.0m Order/Trading Update (7114J)
April 04 2018 - 2:00AM
UK Regulatory
TIDMIGP
RNS Number : 7114J
Intercede Group PLC
04 April 2018
4 April 2018
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
Receipt of $4.0m Order
Trading Update
Intercede, the software and service company specialising in
identity, credential management and secure mobility is pleased to
announce that a large US Federal Government order totaling $4.0m
was received on 28 March 2018. The order includes software licenses
and annual support & maintenance; $2.05m (GBP1.46m) of which
will be recognised in the financial year ended 31 March 2018.
Subject to the completion of the year end audit, revenues for
the year ended 31 March 2018 are expected to be in excess of
GBP9.0m, which is in line with market expectations and 10% higher
than the previous financial year.
Following action taken to reduce the cost base by more than 20%
during the second half of the financial year, gross cash balances
as at 31 March 2018 totalled GBP2.3m.
Further detail will be provided within Intercede's final results
which are expected to be published in June 2018.
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558 111
Andrew Walker, Finance Director
finnCap Tel. +44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Simon Hicks, Corporate Finance
About Intercede
Intercede is a cybersecurity company specialising in digital
identities, derived credentials and access control, enabling
digital trust in a mobile world.
Headquartered in the UK, with offices in the US, we believe in a
connected world in which people and technology are free to exchange
information securely, and complex insecure passwords become a thing
of the past.
Our vision is to make the highest levels of cybersecurity
available to organizations and consumers alike, solving complexity
and scalability issues by managing high volumes of digital
credentials.
We have been delivering trusted solutions to high profile
customers for over 20 years. Our team of experts has deployed
millions of identities to governments, most of the largest
aerospace and defence corporations, and major financial services
and healthcare organizations, as well as leading
telecommunications, cloud services and information technology
firms, providing industry-leading employee and customer credential
management systems.
For more information visit: www.intercede.com
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBRGDSCBGBGIX
(END) Dow Jones Newswires
April 04, 2018 02:00 ET (06:00 GMT)
Intercede (LSE:IGP)
Historical Stock Chart
From Apr 2024 to May 2024
Intercede (LSE:IGP)
Historical Stock Chart
From May 2023 to May 2024