Intercede nearly doubles profit

29th Nov 2010 18:21

Identity and credential management software provider Intercede has produced interim figures that are slightly better than expected. Revenues grew by one-quarter to £3.51m in the six months to September 2010. Pre-exceptional profit jumped from £664,000 to £1.26m. Intercede is already well on its way to house broker FinnCap's full year profit forecast of £2m. Intercede has been adding new clients and it needs to invest in its technology in order to cope with the additional users. Lockheed Martin and the NHS are important clients. Maintenance and support revenues are running at an annualised rate of around £2m. There is cash in the bank of £4.47m. A share capital reduction allows Intercede to pay dividends but it has yet to announce a dividend payment.