Improved margins help GB Group
CHESTER-based identity management and marketing company GB Group is continuing to see margin and revenue improvements.
In an interim management statement covering the nine months to December 31 the company said revenue was up 13% to £17.7m.
Operating profit was up 120% at £1.21m and margins “continue to improve as a result of operational leverage”. Cash balance rose 22% to £5m.
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.
Revenue rose 20% to £10.1m at DataSolutions and 3% to £7.6m at DataAuthentication during the nine months.
“We have been encouraged by our performance in the third quarter and our growth rates exhibited in the year-to-date and consequently anticipate that our full year results will be in line with current market expectations,” said the frim.
