Data specialist reports rise in its interim revenues

Chester-based global identity data intelligence specialist GB Group reported better revenues in the six months to September 30, and said it is on course to deliver full year expectations, despite a fall in half-year pre-tax profits.

The group saw sales rise by 9% to £57.3m, but pre-tax profits of £2.524m compared with £3.512m the previous year.

Chief executive Chris Clark said: “We’ve made pleasing progress over the period, balancing good organic revenue growth across the business with strategic investments in our products, technology and people to maintain competitive advantage.

“This strategy is delivering positive results.

“Our key focus areas of identity verification, location intelligence and fraud, risk and compliance have all performed well.

“The location intelligence business, now operating under the solution brand of Loqate, has made good strategic progress, with strong growth in North America during the period and will be the focus of a capital markets update next month.”

He added: “Looking at the big picture, with good customer gains in the faster-growth markets in Asia, the rich potential in the USA and steady progress in Europe, there’s a lot to be pleased about.

“We’re continuing to deliver on our strategy of growing the business both organically and through acquisitions and in October we acquired VIX Verify in Australia and New Zealand.

“We are on track to meet our full-year revenue and profit expectations.”

GBG is a global specialist in identity data intelligence. It helps organisations make decisions about the customers they serve and the people they employ.

It enables companies, and governments, to fight fraud and cybercrime, to improve the customer experience and help to protect the more vulnerable people in society.

It can verify the identities of 4.4 billion people globally.

Based in Chester it has operations in 18 countries.