Intercede Group PLC on Monday said that it expects revenue for the 2023 financial year to be ahead of expectations, after maintaining the momentum gained in the first half.

For the financial year ending March 31, the Lutterworth, England-based cybersecurity software company now anticipates results ‘materially ahead of forecasts’, in large part due to the expectation of revenue being 5% to 8% ahead of market guidance.

Intercede shares were trading 21% higher at 68.48 pence each in London on Monday morning.

The company’s pipeline of new business has also continued to grow, with several further contract opportunities that could close before the end of the fiscal year.

Intercede added that the integration of computer security service Authlogics Ltd is on track and ‘embedding well’.

‘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. This is a testament to the group’s continued investment in MyID and focused execution on our ’6C strategy’, centred around colleagues, customers, channels, code, cash and corporate Development,’ said Chief Executive Officer Klaas van der Leest.

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

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