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Tech

Deal delays cause drop in sales at global security pass specialist Intercede, but outlook 鈥榩ositive鈥�

Clients have included the US Department of Homeland Security, Boeing, Wells Fargo, Deutsche Telekom and Airbus

Intercede has worked with Airbus

Global security pass specialist Intercede said sales have dropped 9 per cent partly due to delays in closing large new opportunities.

The business, based in Lutterworth, south Leicestershire, reported revenues of £9.9 million for the year to March 31, down from £11 million last year.

In annual results the business said: “A return to normalised trading has taken longer than previously expected against a backdrop of continued Covid-19 restrictions.” But it said the outlook for the year ahead looked positive.

Intercede has provided staff security clearance systems for clients including the US Department of Homeland Security, Boeing, Wells Fargo, Deutsche Telekom, Kuwait Public Authority for Civil Information, Airbus, the US Nuclear Regulatory Commission, Lockheed Martin and the 海角视频 Ministry of Defence.

The business said it saw profits of £700,000 last year, compared to £1.5 million a year before, with staff costs remaining the biggest company expense at 84 per cent of all costs.

It said 16 new deals were signed during the year, double the number for the year before, which was “clear evidence of underlying momentum in the context of growing market demand for cybersecurity”.

Chairman Chuck Pol said: "I would like to take this opportunity to thank all our colleagues, customers, partners and stakeholders for their efforts and understanding during what has continued to be a challenging and uncertain period for everyone.

“Furthermore, I extend my thanks to Klaas [chief executive Klaas van der Leest] and his management team for their leadership and invaluable assistance.