Published: Monday November 24, 2014
Written by on Investor News
GB GROUP PLC
(“GBGroup”, “GBG”, the “Group” or the "Company")
Half Yearly Report
GBGroup, 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."
For further information, please contact:
GB Group plc
Richard Law, Chief Executive
Dave Wilson, Group Finance & Operations Director
Peel Hunt LLP (Nominated Adviser and Broker)
020 7418 8900
020 7653 9850
Notes to Editors
The most profitable and successful organisations recognise the value of understanding the individual identity of their customers and employees. GBG combines this concept of identity with technology to create an environment of trust, so that organisations can employ people and connect, communicate and transact with consumers, safely and responsibly.
We call this Identity Intelligence.
GBG's solutions include:
Register & Verify - International software and services for quick and accurate customer registration; and the verification of identities of individuals & businesses remotely.
Cleanse & Engage - Innovative software and services which provide accurate and up-to-date identity information to deliver improved intelligent customer contact strategies.
Employ & Comply - Thorough background checks through online verification and authentication of individuals enabling organisations to safeguard, recruit and engage with confidence.
Trace & Investigate - Leading software and services which provide the most accurate and up-to-date picture of the UK's population, properties and businesses to quickly locate, investigate and contact the right individual, first time.
- GB Group is listed on the London Stock Exchange (GBG). For more information, please visit GB Group’s website: www.gbgplc.com
- Ends -
For further details of the full announcement please click here.