Intercede optimistic on outlook as annual profit, revenue decline
Intercede Group PLC on Tuesday said trading in the new financial year to date has matched board expectations, as it posted a decline in annual profit amid weaker revenue.
The Leicestershire, England-based cybersecurity software firm reported £3.7 million in pretax profit for the financial year ended March 31, down 19% from £4.6 million a year earlier.
Driving the softer earnings was a 3.2% top-line contraction, as revenue fell to £17.2 million from £17.7 million.
Intercede noted the year presented a ‘difficult economic backdrop’, with the shortfall reflecting US Federal procurement delays flagged back in March, owed to heightened geopolitical uncertainty.
Looking to the current financial year, Intercede said it enters the year from a position of financial strength, with no debt, a robust balance sheet and a resilient pipeline.
The company noted that trading in the new financial year-to-date has been in line with the board’s expectations.
Shares in the company were down 5.0% at 114.50 pence around midday on Tuesday in London.
‘We are deepening our investment in product innovation and talent development - building leadership bench strength, expanding delivery capability for complex programmes, and cultivating a more geographically diversified sales pipeline. These are deliberate, long-term investments that position the group to scale with confidence as demand grows,’ said Chair Royston Hoggarth.
‘Given the strength of delivered contracts year to date, the company has started FY27 in line with the board’s expectations. The board views the outlook with confidence and believes the group is well placed to deliver sustainable, long-term growth.’
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