Intercede revenues grow throughout first-half

4th Oct 2018 11:47

(Sharecast News) - Cybersecurity specialist Intercede turned in first-half revenues hat were more than 10% higher than a year earlier on Thursday as orders from new and existing customers grew at the end of the period.Intercede, which specialises in digital identities, derived credentials and access control, said its performance was in line with expectations thanks to its strong end to the half that saw revenues jump 12.33% to £4.1m.The AIM-listed outfit also revealed that its efforts to cut its cost base at the start of the financial year had led to a "substantially reduced" operating loss of less than £1m - a more than 67% year-on-year drop.Intercede had £3.6m in cash on hand at 30 September, partly due to the receipt of a £1m research and development payment from HMRC.As of 1145 BST, Intercede shares had climbed 5% to 31.50p.