GB Group hungry for more after strong year
GB Group has hailed a “very successful year” where it made three acquisitions and delivered a strong revenue and profit growth.
The Chester-based identity management specialist said operating profits in the year to the end of March had surged 84% to £3.1m and pre-tex profits by 62% to £2.5m as revenues climbed 31% to £31.8m.
The listed company said the three new additions, Data Discoveries, Advanced Checking Services and Capscan, were performing well and had brought new capabilities and customers with them.
Chief executive Richard Law said: “2012 was a very successful year for GB Group, both in strategic development and growth. Looking forward, I believe we have created an opportunity of real value and we will endeavour to exploit this opportunity at a good rate of progress.
“These results are ahead of market expectations and again demonstrate our ability to deliver on our vision for the group in the UK and internationally.”
The acquisitions increased GB’s headcount at the company from 168 to 240. The commpany now has four complementary identity management products: ID Verification; ID Customer Registration; ID Marketing Services and ID Tracing Services.
Mr Law said there was growing international interest in the electronic ID Verification service. During the year coverage increased from six to 14 countries.
Chairman David Rasche said in the light of “excellent results” the group is paying a final dividend of 1.375p per share, up 7.8% over the dividend of 1.275p paid last year.
