{"id":2062348,"date":"2020-06-30T08:06:26","date_gmt":"2020-06-30T07:06:26","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/northwest\/?p=2062348"},"modified":"2020-06-30T08:15:15","modified_gmt":"2020-06-30T07:15:15","slug":"profits-up-40-as-data-group-exceeds-expectations","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2062348-profits-up-40-as-data-group-exceeds-expectations","title":{"rendered":"Profits up 40% as data group exceeds expectations"},"content":{"rendered":"

Data business GB Group came within a whisker of achieving \u00a3200m in revenue last year as its performance exceeded expectations.<\/p>\n

Revenues were up 39% while pre-tax profits increased at the same rate, achieving \u00a320.6m in the year to March.<\/p>\n

The group benefits from “a high level of annual recurring licence revenue” although it does not yet have sufficient visibility on the current financial year to provide guidance.<\/p>\n

However it has been “encouraged by some countercyclical opportunities” which it said had softened the impact of reduced activity in some parts of the business since March.<\/p>\n

It has seen “normal levels” of customer churn and levels of insolvency, although the time taken for companies to pay invoices and to agree deals are lengthening.<\/p>\n

Chief executive Chris Clark said he is “confident GB Group is approaching the future from a position of strength”.<\/p>\n

He added: “I am extremely proud of our performance in the last 12 months, which saw profit and revenues exceed market expectations. This was driven by GBG’s international expansion and innovative product offerings.<\/p>\n

“Although it is hard to predict the full impact of Covid-19, we remain well-positioned to support our customers through the current environment and in the longer term.” <\/p>\n

The Chester-based identity data intelligence specialist now generates 56% of its revenues from outside the UK.<\/p>\n

It continues to target international growth through three complementary solutions that target location, identity and fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"

International expansion boosts revenues to nearly \u00a3200m<\/p>\n","protected":false},"author":18,"featured_media":2062351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[81],"class_list":["post-2062348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-featured-story"],"yoast_head":"\nProfits up 40% as data group exceeds expectations<\/title>\n<meta name=\"description\" content=\"International expansion boosts revenues to nearly \u00a3200m\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2062348-profits-up-40-as-data-group-exceeds-expectations\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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