Earnings rise at GB Group

CHESTER-based indentity management company GB Group has recorded a sharp rise in half-year sales and earnings.

Chester-based 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.

In the six months to September 30 sales rose 10% to £11.6m while pre-tax profits jumped from £341,000 to £577,000. Cash balances stand at £4.6m after paying a final dividend of 1.2p a share in August.

Revenue was up 20% in the DataSolutions business which reflected new online services to client such as Homeserve and the Department of Energy and Climate Change.

Income dipped slightly to £5.1m at DataAuthentication but profits improved after GB secured new clients and reined in costs.

Chief executive Richard Law said: “GB Group has delivered a set of strong results underpinned by progressive revenue development, continued investment and strong cash flows. We have enhanced the group’s potential in line with our vision for growth and the positive progress that was seen in the first half has continued during our third quarter to date.”