Intercede Group (AIM:IGP) saw its shares strengthen, rising 8.5% in Wednesday morning’s deals, after the cyber security software firm reported $5 million of new business and renewals.
The contracts include licensing to a government client in Asia, as well as a Middle-Eastern airline and a bank in Kuwait.
A subscription from an American government-sponsored enterprise was also finalised, the company noted. Three US government agencies, meanwhile, renewed their subscriptions.
Intercede told investors it now expects its financial performance for FY25 to exceed market expectations, which it says is for £16.1 million of revenue and £3.3 million of earnings (adjusted EBITDA).
“The group continues to demonstrate its ability to address client needs quickly, efficiently, and commercially,” chief executive Klaas van der Leest said in a statement.
“The renewals and services highlight the critical nature of our software once in production and underpins the long tenure of our existing client base."
In London, Intercede shares were up 8.49% trading at 198p.