Intercede Group (AIM:IGP) PLC rallied on Tuesday following the release of the credential-management company’s first-half financials.
The group reported record revenues of £7 million, marking a 15% year-on-year increase, with operating profit increasing from £600,000 to £1 million.
Diluted earnings per share came to 2.5p compared to 2p in the first half of 2022.
Intercede maintained a debt-free balance sheet with gross cash of £9.7 million as of 30 September 2023.
"The strong performance we achieved in the first half of 2023 has continued. The benefit of tight cost controls and a strong pipeline of future opportunities means that I am pleased to report that we now expect the group to achieve financial performance for FY2024 ahead of previous market expectations," said chairman Royston Hoggarth.
Shares were up 15.25% to 68p at the time of writing.