Intercede Group Expects to Beat Market Forecasts with New Contract


Shares of Intercede Group rose by 18% following the announcement that they anticipate surpassing market predictions for fiscal year 2024. The boost in share prices reflects investor optimism due to the new contract awarded to the company, as well as the existing order pipeline.

At 1425 GMT, the shares were up by 13.50 pence (14.5%) at 106.50 pence, reaching a peak of 110.0 pence earlier in the session.

The London-based cybersecurity firm revealed on Wednesday that it received a license order valued at $1.0 million from a new client in the U.S. intelligence community. Additionally, the client has committed to an annual subscription fee of $200,000.

Intercede Group has provided a revenue forecast of £18 million ($22.7 million) for the fiscal year ending on March 31. They also project adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of GBP5.2 million. In comparison, the figures for fiscal year 2023 were £12.1 million and GBP1.3 million respectively.

“We are particularly thrilled to secure this order, as it has the potential for further growth and includes a subscription element. Ending 2023 on a high note, we aim to maintain this positive momentum into the final quarter and FY25,” stated Klaas van der Leest, Chief Executive of Intercede Group.

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