Intercede FY results seen 'materially ahead' of consensus

Cybersecurity software company Intercede said on Monday that it had continued to maintain momentum seen in the first half of its trading year, with revenue expected to be approximately 5-8% ahead of market forecasts.

As a result, Intercede stated that its full-year results will now be "materially ahead" of analysts' expectations as its pipeline of new business continues to grow and it looks to close "several further contract opportunities" before the fiscal year-end.

Current consensus forecasts call for revenues of £11.3m in the year ending 31 March and adjusted underlying earnings of £600,000.

Chief executive Klaas van der Leest said: "I am pleased to report continued progress against our strategic plan and in particular the positive news on our group's efforts so far in FY23. We now expect revenue and profits to be ahead of current market expectations.

"With over two months to run until year end, the group has several opportunities to close further deals which could enhance our results further."

As of 0935 GMT, Intercede shares had rallied 22.09% to 68.98p.

Reporting by Iain Gilbert at Sharecast.com