GBG Half Yearly Report 2019

Published: Tuesday November 26, 2019

GB GROUP PLC

(“GBG”, the “Group” or the “Company”)

HALF YEAR RESULTS FOR SIX MONTHS ENDED 30 SEPTEMBER 2019

Strategy drives strong financial and operational performance.

GB Group plc (AIM: GBG), the global identity data intelligence specialist, announces its unaudited results for the six months ended 30 September 2019.

Financial highlights

Organic revenue

^*The results for H1 in the last financial year have been adjusted in this announcement to be consistent with the refinements made for IFRS 15 in the 2019 Annual Report. The adjustment reflects revenue phasing under IFRS 15. The impact of this adjustment re-aligns revenue in the 6 months to 30 September 2018 only and does not impact the reported results for the full year to 31 March 2019. See note 2 to the interim financial statements for further details.

Chris Clark, CEO, commented:

“I am pleased with the progress we have made against our strategic objectives in the first six months, which has seen us deliver good growth. This was driven by a strong organic performance (helped in part by the accelerated timing of some contracts for our Fraud division), the successful integrations of our acquisitions and ongoing investment to support our differentiation.

We had a strong organic growth performance across each of our three key solutions of Location, Identity and Fraud across our core geographies. This performance has also been supported by the successful integrations of VIX Verify and IDology and we are excited about our future prospects and how these businesses will develop and strengthen our propositions.

So far the second half of the year has begun in line with our expectations and we remain confident in meeting full year market consensus.”

Operational highlights and outlook

Notes:

^† Adjusted operating profit means profit before amortisation of acquired intangibles, share-based payments, exceptional items, interest and tax. This measure is not defined under IFRS but Management believe that this Alternative Performance Measure (APM) is a more appropriate metric to understand the underlying performance of the Group. For more details see “Alternative Performance Measures” in the Interim Consolidated Financial Statements.

^‡ Adjusted earnings per share is defined as adjusted operating profit less net finance costs and tax divided by the basic weighted average number of ordinary shares of the Company. 

^†† Net (debt)/cash means cash and short-term deposits less loans (excluding unamortised loan arrangement fees).

For further details of the full announcement please click here. 

- Ends -

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Presentation and webcast

GBG management will be hosting an analyst presentation today (26 November 2019) at 09.00 a.m. GMT at the London Stock Exchange, 10 Paternoster Sq., London EC4M 7LS.

Shortly following the presentation, an archived webcast will be available on the Investors page of the Company's website.

About GBG

GBG offers a series of solutions that help organisations quickly validate and verify the identity and location of their customers.

Our innovative technology leads the world in location intelligence and fraud detection. Our products are built on an unparalleled breadth of data obtained from over 200 global partners which helps us to verify the identity of 4.4 billion people globally.

Our headquarters are in the UK and we have over 1,000 team members across 16 countries. We work with clients in 72 countries including some of the best-known businesses around the world, ranging from US e-commerce giants to Asia's biggest banks and European household brands.

To find out more about how we help our clients establish trust with their customers, visit www.gbgplc.com, follow us on Twitter @gbgplc, or read more in our newsroom: www.gbgplc.com/newsroom.