Intercede Group (AIM:IGP) shares shot up in Monday’s early deals after the cybersecurity software firm told investors it expects to beat market forecasts for its current financial year, ending 31 March 2023.
The company, in a statement, said its positive trading performance was a result of its continued investment in the MyID digital identity management product, along with its so-called "6C strategy" (focused on Colleagues, Customers, Channels, Code, Cash, and Corporate Development).
"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 financial year 2023,” said chief executive Klaas van der Leest.
“We now expect revenue and profits to be ahead of current market expectations.”
Intercede meanwhile highlighted that its pipeline of new business continues to grow, and said there are several further contract opportunities that could close before the fiscal year end.
In London, Intercede shares gained 12.8p or 22.65% to trade at 69.3p in Monday’s early deals, giving the small-cap stock a market value of around £40.35mln.