Thursday, June 17, 2021

Software firm confident for the future following year of growth

Intercede, the Lutterworth-based specialist in digital identity, credential management and secure mobility, has delivered its third year of sustainable growth in revenues, profits and cash.

According to preliminary results for the year ended 31 March 2021, revenue increased by 6% to £11m (FY20: £10.4m).

The group meanwhile posted a pre-tax profit of £1.1m, up from £574,000 in 2020.

Chuck Pol, Chairman, said: “During the COVID-19 pandemic, Intercede has maintained solid revenue growth at 6% and delivered a substantial increase in profitability with the levels of cash generated being well ahead of market forecasts.

“I would like to commend Klaas and his management team on the completion of the first phase of the Group’s turnaround plan. This achievement is all the more commendable having been delivered during the biggest global pandemic of our lifetimes.

“None of this would have been possible without the commitment and dedication of Intercede’s employees who have used their experience and expertise to continue to deliver world class digital identity solutions to our customers and partners.

“I remain confident of the Group’s future prospects as we emerge from the pandemic and Governments and commercial enterprises are able to take the necessary steps to further improve their security environments when taking increased remote working into consideration.”

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