By Joe Hoppe
Intercede Group shares rose after it said it has secured a number of new contract and renewal orders, with an aggregate contract value exceeding $1.4 million.
Shares at 0829 GMT were up 8.5 pence, or 15%, at 66.0 pence.
The cybersecurity company said Tuesday that the contracts and renewals include, among others, a new order from a large existing U.S. defense and aerospace manufacturer, a significant upgrade by a large northern European bank of its use of the product, and renewal of a sizable support and maintenance contract with a major U.S. Federal Agency.
It also signed several new clients in the Middle East, increasing its footprint in the sector.
The company said the orders and renewals underpin revenue expectations for the year ending March 2024 and create contracted revenue backlog for fiscal 2025.
“With increased interest from existing and prospective customers in the U.S., Europe, Middle East and Africa and Asia-Pacific we believe the group is well positioned,” Chief Executive Klaas van der Leest said.
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