International growth gives identity data specialist big fillip
Profits and revenue at Chester-based identity data intelligence specialist GB Group have been boosted by the company’s overseas performance.
Revenue for the year to March 31 was up 19.2% to £87.5m (2016: £73.4m) and pre-tax profits after exceptional items rose 8.2% to £10.1m (2016: £9.3m).
It’s revenue stream from international operations has risen from 26% to 31% with the AIM-listed company now servicing customers in more than 70 countries.
IDScan – fully acquired in July 2016 – is providing a strong pipeline of growth for the identity proofing operating part of the business, with the ability to verify the identities of 4.4 billion people across the globe.
Its acquisiton Loqate is continuing to perform well as a fully integrated part of the identity solutions operating segment.
Clients including Citibank and DBS (Development Bank of Singapore) and new business wins include deals with blue chip companies including Saxo Bank A/S and Lufthansa.
Post period there was also the significant acquisition of PCA Predict for £73.8m , positioning GBG as a leader of UK and international address validation and data quality services.
The company has also strengthened its board post year end with appointment of Nick Brown as group managing director.
Chief executive Chris Clark said: “We have made a positive start to the year, with trading in line with management expectations. We have also completed a successful acquisition and I am excited about the opportunities this brings.
“As this is my first statement as CEO I wanted to thank the GBG team for making me feel so welcome.
“I am committed to continuing to invest in our people, customers, products and services to provide another positive year for all our stakeholders. I am confident in the direction we are heading as a Group and I am looking forward to the year ahead.”