Revenue and pre-tax profit are on the rise at Intercede, the Lutterworth cybersecurity software company.
According to interim results for the six months ended 30 September 2022, revenues totalled £6.1 million, approximately 24% higher than the £4.9 million reported for the same period of last year.
Profit before tax meanwhile hit £620,000, up from £120,000.
The news comes after Intercede’s acquisition of Authlogics Ltd, post-period end, a UK-based company bringing Multi Factor Authentication (MFA) and Password Security Management (PSM) capabilities to the Intercede Group.
Royston Hoggarth, chairman, said: “I would like to take this opportunity to thank our colleagues for their hard work during what has undoubtedly been a busy six months, driving strong double-digit revenue growth and working towards the completion of Intercede’s first M&A deal.
“The acquisition of Authlogics enables Intercede to deliver on its strategic vision of addressing the entire authentication pyramid from Passwords to PKI.
“The Board is pleased to see such a focussed start to Phase 2 of the turnaround plan to push scalability and accelerate revenue growth.
“While the Board is cognisant of volatility in the current global macroeconomic environment, we remain confident in the group’s execution of the ‘6C strategy’ and that the outlook for the second half of FY23 remains in line with management’s expectations.“
