Intercede Group PLC Reports Strong Financial Performance for FY24

Intercede Group PLC has released its preliminary results for the year ended 31 March 2024, showcasing impressive financial performance and strategic advancements. The leading cybersecurity software company reported record Group revenues of £20.0 million and a net profit of £6.0 million, marking significant growth compared to the previous year. Key highlights include the rebranding of acquired Authlogics solutions as part of an expanded MyID product family, emphasizing continued investment in product development and internal IT infrastructure. With a 65.3% increase in revenue, 65.8% growth in gross profit, and 833.3% surge in profit before tax, Intercede Group PLC’s strong operational efficiency and market demand for its cybersecurity solutions are evident. The company’s earnings per share (EPS) saw a substantial increase, with basic EPS reaching 10.3p in FY24. Major contract wins with key clients, such as a large US Federal Agency, contributed to the revenue growth, highlighting Intercede’s ability to secure significant deals in the cybersecurity market.