Intercede warns over full-year revenue

AIM-listed cyber security firm Intercede said on Friday that full-year revenues are likely to be below the previous year.

The company said it has had a slow start to the current financial year amid delays in the receipt of anticipated license orders for its key MyID product from new and existing customers. As a result, trading for the year to date is below expectations and the prior year.

“The company still has a strong pipeline of MyID license opportunities and is continuing to make good progress in pursuit of its short to medium term strategic objectives,” it said.

Nevertheless, revenue for the year is now likely to be lower than last year's record sales of £11m.

At 1230 BST, Intercede shares were down 35% to 59.10p.