GB Group on course to hit targets

CHESTER-based identity management business GB Group said it is trading ahead of last year and expects to hit full-year market targets.

GB has two main divisions, DataAuthentication which offers an identity verification service aimed at tackling ID fraud, money laundering and under-age gambling, and DataSolutions, which provides clients with information on their customers.

In a trading update it said both parts of the business were both trading well and are ahead of last year.

Interim figures released in November for the six months to September 30 showed revenue was up 43% to £17.7m and adjusted operating profit was up 58% to £1.5m.

However, the group’s pre-tax profit was down 31% at £500,000 after taking into account finance charges and exceptional items.

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