GB GROUP PLC
("GBGroup", "GBG", or the "Group")
Pre- Close Trading Update
GB Group, the identity intelligence specialist, provides the following trading update for the year ended 31 March 2014 in advance of the release of its annual results in July.
Group Trading & Operating Performance
The Board is pleased to report that GBGroup has achieved a strong set of results, which will be ahead of market consensus and expects to show an adjusted operating profit† of approximately £7.0 million (2013: £5.5 million) representing a year on year increase of approximately 27%.
As a result of positive growth both organically and through acquisition, the Group expects to report a 15% increase in adjusted revenues to £41.6 million (2013 adjusted††: £36.3 million).
Richard Law, CEO commented:
"The Board is very pleased with these results which are a credit to the GBG team. The profit performance is particularly impressive given that the Group increased operational expenditure by approximately £1 million during the year on the development and expansion of our international services, the majority of the benefit of which will be felt in next and future years."
Notice of Results
The Group expects to report annual results in July 2014.
† Adjusted operating profit means profits before share of results from associates, interest, tax, share based payment charges, amortisation of acquired intangibles and exceptional items.
†† Adjusted Revenue
During the previous financial year, GBG restructured its commercial relationship with BT which meant that ID Verification margins under the revised agreement are higher in absolute terms but revenues are reduced in the current financial year. For ease of comparison, the revenue for the comparative period has been adjusted to show the true underlying growth.
For further information, please contact:
GB Group plc Richard Law, Chief Executive Dave Wilson, Group Finance and Operations Director |
01244 657333 |
Peel Hunt LLP (Nominated Adviser and Broker) Richard Kauffer Daniel Harris |
020 7418 8900 |
Newgate Threadneedle Caroline Forde Josh Royston Heather Armstrong |
020 7653 9850 |
Website |
www.gbgplc.com |
About GBGroup
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.
