Revenue climbs to £52.6m for identity data specialist
Chester-based identity data specialist GB Group has seen half-year revenue climb 40% to £52.6m.
In the six months ended September 30 the AIM-listed company said it has continued to trade strongly and remains well positioned to meet the growing demand for identity data intelligence products.
The organic revenue growth includes £3.5m from the sale of a perpetual licence to a leading European bank, finalised in September.
GBG expects to report adjusted operating profit for the half year in excess of £10m, an increase of more than 90% on last year.
This is ahead of half year expectations due to the positive effect on profitability resulting from the licence agreement.
The recent acquisitions continue to perform well and have been instrumental in driving GBG’s international expansion, the company said.
GBG DecTech, GBG Loqate, IDscan and the latest acquisition PCA Predict, have all had a “strong first half”.
Chief executive Chris Clark said: “The performance of GBG since the beginning of April has been very encouraging.
“The PCA Predict acquisition completed successfully in May and the business has integrated well into the group, giving us new growth opportunities.
“Looking forward to the second half, we again have high visibility (more than 70%) of our full year revenues and continue to grow well in the UK and internationally.”
