Huge growth for Lutterworth company

October 14, 2017 by  

A provider of specialised digital security that supplies the most sensitive organisations in the world said that new client wins had improved revenues.

Lutterworth’s Intercede predicts the current financial year’s first half sales, ending March next year, to be increased by close to 30% to over £3.6m, in comparison to the same period in the previous year. The firm said that a number of key clients came on board, including a US aerospace and defence contractor.

Intercede saw £4.8m cash sitting in their bank at the end of September, compared £1.43m a year earlier. The company had raised £4.6m from issuing convertible loan notes- they enable an investor to converts loans into equity- along with new equity at the start of the year.

Intercede chief executive and chairman Richard Parris, said:

“Progress has been made in our existing core market within government agencies and large enterprises. Enabled by our enlarged sales team, we have strengthened our European sales pipeline to diversify away from our heavy dependency on the US government centric market.”

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