Trading ahead | Positive cash flow | Manufacturing issues
News covered here includes our assessment of another disappointing update from one niche manufacturer which is struggling to ramp-up its manufacturing and convert a sizeable order book. Elsewhere, there was more positive news from the world of software, cosmetics and fresh cream cakes - we know which one of those we prefer! Read on here for our latest forthright opinion on this and other news. (Premium)
Intercede: still doing well Intercede (AIM:IGP), the cybersecurity software company specialising in digital identities, updated on trading for its financial year ended 31 March 2024. Underlying trading has continued to show strong momentum with revenues for the year expected to be approximately 67% higher at £20m, which is in-line with forecasts. The combination of higher revenues and the high operational gearing in the business is expected to result in improved profitability, with forecast pre-tax profit of £5.5m, a delightful 27.5% margin. Period end cash was a very healthy £17.2m (2023: £8.3m), implying £8.9m of free cash flow. Following an exceptional…