GB Group bullish on prospects amid strong demand
EXPANDING Cheshire company GB Group says it it continuing to make good progress and is confident on its prospects as it looks to enter more international markets.
The Chester Business Park-based company, which provides ID checking services, said ahead of its annual meeting that it has “made a strong start” to its new financial year driven by strong domestic and global demand for its products.
GB said its most recent acquisition, Australian fraud and credit risk software provider DecTech Solutions, which it bought for £20m in April, was making a positive contribution already.
Chairman, David Rasche said: “DecTech has brought greater scale, technical capability and geographical reach and is already showing tangible benefits to the Group. We have been very pleased by the success of the integration of the business to date and by the pipeline of new business.”
He said the company is optimistic of continued growth this year and in its ability to deliver increased value to both our clients and shareholders.
“Our priorities for the year are the continued internationalisation of our product portfolio, making sure that we continue to invest wisely and improving our margins. The board is pleased with the success achieved in the year to date and is confident that GB Group will deliver another year of positive progress,” he added.
Having raised £11m in April in a share placing, GB said its cash balances at the end of July was £9.7m. The company said it would announce results for the six months to September 30 in late November.
