GB Group hails ‘very strong’ year
CHESTER-based identity management specialist GB Group has said it expects full year group revenues to increase 27% to around £31m.
The Aim-listed company said it had achieved a “very strong” set of results, in a trading update for the year to the end of March 2012, and that the improvement was a consequence of both organic and acquisitive growth.
The DataAuthentication business, the provider of its Identity Verification Services, saw a significant increase in organic growth and improved profitability.
DataSolutions also saw improvement, which the company said was due in large part to the acquisitions of Data Discoveries and Capscan and continued strong growth in the ID Tracing Services of the business.
Richard Law, GB Group chief executive, said: “GB Group has benefited, and will continue to do so, from high recurring revenue, organic growth and margin expansion from its high quality businesses.
“Our growth is closely linked to that of online business, as companies seek to better understand their customers in this environment. With our growing international capabilities we are now strongly positioned in the emerging cross-border online identity verification market which we believe represents an exceptional opportunity for GB Group. As a result of all these factors, the board remains confident of future growth.”
The group will report its full year results in early June.
