Half Year Trading Update and
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Embargoed until 7.00 a.m. |
18 October 2010 |
GB GROUP PLC
("GB" or the "Group")
HALF YEAR TRADING UPDATE AND NOTICE OF RESULTS
GB Group, the UK's leading identity management business, today provides the following update ahead of the publication of financial results for the six months ended 30 September 2010.
The Group traded strongly throughout the first half of the financial year and expects to announce profitability substantially higher than previous expectations.
The highlights are as follows:
· Group revenue increased by 10% to £11.5 million (2009: £10.5 million).
· Group profit before interest, taxation, exceptional costs and share-based payments is expected to be
approximately £740,000 (2009: £300,000).
· DataSolutions, provider of identity based marketing services, showed strong growth from its specialised
online services which are increasingly differentiated using unique technology and first class data sources.
· DataAuthentication, the identity verification business, continued to show modest underlying growth,
benefiting in particular from a widening of its client base.
· Both DataSolutions and DataAuthentication benefited from investment over recent periods to enhance the
Group's sales resource.
· GB's cash balances remain robust and cash balances at 30 September 2010 were £4.6 million (2009: £4.3
million) after the payment of the increased final dividend of 1.2p per share in August 2010 amounting to
£1.0 million (2009: £0.9 million).
Outlook
GB has traded well in the first half of this year. On the basis of a continuing positive performance, the Board expects to report profits for the full year ahead of current market expectations.
Richard Law, Chief Executive, commented:
"We are pleased with GB's performance in the first half of the year. Investment over the last eighteen months in developing and differentiating our products and services, enhancing our sales resource and widening our customer base has positioned the Group well in its markets which, thus far, have continued to show signs of improvement."
Notice of results
The Group will provide further details of its trading performance at the time of its half year results announcement which is expected to be on 30 November 2010.
- Ends -
For further information, please contact:
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GB Group plc |
01244 657333 |
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Richard Law, Chief Executive Dave Wilson, Finance Director |
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KBC Peel Hunt Ltd (Nominated Adviser and Broker) Richard Kauffer Daniel Harris |
020 7418 8900 |
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Weber Shandwick Financial Nick Oborne Clare Thomas |
020 7067 0700 |
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Website |
www.gb.co.uk
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Notes to Editors
About GB Group plc
The most successful organisations recognise the value of understanding your individual identity - who you are, what you need and what you like. GB combines this concept of identity with technology to create an environment of trust so that organisations can connect, communicate and transact with consumers safely, responsibly and profitably. We call this identity management.
GB Group has three complementary identity management offerings:
· Identity Verification - combating ID fraud, money laundering and under-age gambling
· Identity Capture and Maintenance - providing accurate and up-to-date customer information for your contact strategy
· Identity Analysis - understanding, targeting and retaining profitable customers
This enables our clients to make informed business decisions based on a thorough knowledge of consumer identity and behaviour, leading to more effective communication and interaction with the customer.
GB is listed on the London Stock Exchange (GBG). For more information, please visit GB's website: www.gb.co.uk.
GB Group - because identity matters™
This information is provided by RNS
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