GB Group flags up higher profits
GB Group, the identity management and customer data specialist, says its annual revenues and operating profits will rise 24% and 49% when results are announced in June.
On the back of strong trading the Chester-based group said revenue for the year to the end of March would come in at around £40m, as it revised its profit expectations from £5.1m to £5.5m.
The AIM company said both of its divisions, DataAuthentication and DataSolutions had grown strongly in the last 12 months with revenues up 20% and 26% respectively.
GB said it was continuing to explore acquisition opportunities to help it win market share or add complementary products.
Chief executive Richard Law said: “Our professional and talented team has performed excellently and continues to grow in skill and strength. This, taken together with the positive growth prospects for our markets, means we remain confident for the year ahead.
“Increasingly, commerce is being influenced by the online world and an ever more mobile population.
“Organisations now trade and interact with many more customers, over longer distances and in situations that are rarely face-to-face presenting new challenges for verifying and maintaining contact with customers.
“In the year ahead we will continue to focus on making business easier and safer for our clients by investing in our international verification network (ID3 Global) and in widening our capabilities in other areas to strengthen our position in this significant global market.”
