Intercede Group (AIM:IGP) ticked up to a new all-time high after annual results confirmed new records for annual revenues and profits plus strong cash generation.
In the year to March 2024, the AIM-listed cyber security firm, which specialises in ID verification and password protection, posted revenues of £20 million (up 65%), profits of £5.6 million, up 866% and generated cash of £9.6 million from operations, a rise of 231%.
Big contracts with the US government were behind the profits surge, including one order from a Federal Agency worth US$5.5 million (and considered a one-off), plus a new contract for a US intelligence community client.
Licences were also sold to the US Department of State with a new order for an existing Federal Agency picked up at the end of the year.
Royston Hoggarth, Chairman, said: "In this challenging global environment, the Group has delivered record revenues in what has been an exceptional year. We look forward to building on this momentum."