Profits leap at GB Group

CHESTER-based identity checking firm GB Group has seen first half operating profits jump by 50%.

In a trading update for the six months to the end of September, the company said its expects operating profits, adjusted for interest, tax, and other charges, to be up from £1.5m to £2.3m.

This reflects organic growth and the impact of an acquisition – its £1.3m purchase of Crewe-based CRD (UK) in July.

GB has two main divisions, DataAuthentication which offers an identity verification service aimed at tackling ID fraud, money laundering and under-age gambling, and DataSolutions, which provides clients with information on their customers.

Chief executive Richard Law said: “I’m pleased with GB Group’s performance in the first half of the year. The group continues to invest in its capabilities, strengthening and broadening its position in an attractive and developing market. We enter the second half with confidence and momentum.”