Published: Monday November 24, 2014
(“GBGroup”, “GBG”, the “Group” or the "Company")
Half Yearly Report
GBG, the identity intelligence specialist, announces its unaudited results for the six months ended 30 September 2014.
Highlights – Financial
- Strong trading performance for the six months to 30 September:
- Revenue growth of 28% to £23.2 million (2013: £18.1 million)
- Both divisions, Identity Proofing and Identity Solutions, contributing to revenue growth
- Adjusted operating profits increased by 47% to £3.8 million (2013: £2.6 million)
- 43% increase in profit after tax to £1.7 million (2013: £1.2 million)
- Adjusted basic earnings per share of 3.1p (2013: 2.3p)
- Group has cash balances of £13.6 million (2013: £6.0 million) - with net cash balances of £8.6 million (2013: £6.0 million).
- 13% increase in overall organic revenue growth.
Highlights - Operational
- Acquisition of DecTech in May and Transactis post-period end in October.
- Further strong growth in our international services.
- International verification capabilities extended and enhanced – GBG can now provide verification services on over 4 billion citizens globally.
- IDS product range upgrades successfully launched in October.
Richard Law, CEO, commented, "We have made strong progress against our strategy throughout the first half of the year and expect this positive momentum to continue through to the year end and beyond. With the added capabilities, markets and clients bought to the Group by the acquisitions of DecTech and Transactis, we are confident of our continued growth and for the prospects of the Group which we feel are very positive."