Intercede makes 'further good progress' during 'unprecedented' H1

Digital identity and credential management firm Intercede has recorded "further good progress" during an "unprecedented" six-month period that saw revenues grow despite impacts stemming from the Covid-19 pandemic.

Intercede said on Thursday that revenues for the six months ended 30 September were approximately 9% higher year-on-year at £4.8m, in line with expectations and reflecting orders received from both new and existing customers.

The AIM-listed group added that continued tight cost control had resulted in a positive operating cashflow during the period - with cash balances totalling £8.1m as of 30 September, compared to £4.8m as of 31 March.

Elsewhere, Intercede revealed it had joined the Faster Identity Online Alliance (FIDO) as it looked to extend its MyID software platform to manage both FIDO and PKI-based strong authentication.

As of 1015 BST, Intercede shares had shot up 12.71% to 78.90p.