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Intercede swings to profit on higher revenue

By BFN News | 08:58 AM | Tuesday 24 November, 2020


Identity, credential management, and security technology company Intercede swing to a profit in the first half of the year as new business wins lifted revenue. For the six months ended 30 September 2020, pre-tax profit rose to £3,000 from £263,000 loss as revenue increased by 9% to £4.8m. Revenue growth reflected 'orders received from both new and existing customers with growth across all areas of revenue: software licenses, professional services and support & maintenance,' the company said. 'Whilst the broader impact of a second wave of COVID-19 on the remainder of the current financial year remains as yet uncertain, Intercede's fundamentals remain very much intact and year-on-year growth is still anticipated in fiscal 2021,' Intercede said. 'As in previous years, revenue is expected to be weighted towards the second half of the year,' it added. At 8:58am: (LON:IGP) Intercede Group PLC share price was 0p at 78p Story provided by StockMarketWire.com

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