GB Group PLC Trading Update (1976L)
April 24 2015 - 2:00AM
UK Regulatory
TIDMGBG
RNS Number : 1976L
GB Group PLC
24 April 2015
Embargoed until 7.00 24 April 2015
a.m.
GB GROUP PLC
("GBGroup", "GBG", or the "Group")
Trading Update
As indicated in its pre-close trading update, published on 7
April 2015, GB Group, the data identity intelligence specialist,
today provides additional information regarding trading for the
year to 31 March 2015, in advance of the release of its annual
results in early June.
Group Trading Performance
The Board is pleased to report that the Group's strong
performance has continued this year and revenues for the year to 31
March 2015 are expected to have increased by approximately 37% to
GBP57.3 million (2014: GBP41.8 million).Organic revenue growth is
expected to be 15% with the balance coming from the acquisitions of
DecTech and Transactis, made earlier in the year. These
acquisitions have further strengthened GBG's identity intelligence
credentials and both businesses have integrated and performed very
well in the period.
As a result of positive growth, both organically and through
acquisition, the Group expects to report a 50% increase in adjusted
operating profit to GBP10.8million (2014: GBP7.2 million), which is
ahead of market expectations.
Over the course of the year, deferred revenue in the balance
sheet (in respect of amounts invoiced under annual contracts, which
will be recognised in future periods) is also expected to have
increased by GBP3.2million to GBP9.9million, representing
additional future value for the Group.
The Group continues to be highly cash generative and cash
balances at 31 March 2015 were GBP15.8 million (2014: GBP11.8
million) with net cash balances of GBP11.4 million (2014: GBP11.8
million).
Operational Highlights
The Group's businesses have grown strongly with IDP (GBG's
Identity Proofing business) revenues approximately 66% ahead and
IDS (GBG's Identity Solutions business) showing growth of
approximately 20% compared to last year. In addition, in March
2015, GBG was chosen as one of the identity assurance providers on
the new GOV.UK Verify service. GBG will be offering the service
through its own brand - CitizenSafe(TM) - to citizens directly
through the GOV.UK verify portal. GBG has also been chosen by Royal
Mail to be its ID verification partner on this project, which means
that GBG's technology is behind 2 of the 9 choices being made
available.
Further information about the GOV.UK Verify service project can
be found at the Government's
website:https://identityassurance.blog.gov.uk/2015/03/25/procurement-2-new-identity-suppliers-to-join-gov-uk-verify/
Commenting on the expected results, Richard Law, CEO of GBGroup,
said:
I'm extremely pleased that our results have, once again,
exceeded market expectations. They reflect the substantial
potential of our markets and the clear vision we have put in place
to maximise that potential. Our high quality team is strongly
motivated and committed to deliver continued growth. I believe that
the prospects of the Group continue to be excellent."
- Ends -
For further information, please contact:
GB Group plc
Richard Law, Chief Executive
Dave Wilson, Group Finance
and Operations Director +44 (0)1244 657333
Peel Hunt LLP (Nominated
Adviser and Broker)
Richard Kauffer
Edward Fox +44 (0)20 7418 8900
Newgate (Financial PR Adviser)
Tim Thompson
Adam Lloyd
Andrew Jones +44 (0)20 7680 6550
Website: www.gbgplc.com
About GBGroup
The most profitable and successful organisations recognise the
value of understanding the individual identity of their customers
and employees. GBG combines this concept of identity with
technology to create an environment of trust, so that organisations
can employ people and connect, communicate and transact with
consumers, safely and responsibly.
We call this Identity Intelligence.
GBG's solutions include:
Register &Verify - International software and services for
quick and accurate customer registration; and the verification of
identities of individuals & businesses remotely.
Cleanse & Engage - Innovative software and services which
provide accurate and up-to-date identity information to deliver
improved intelligent customer contact strategies.
Employ & Comply - Thorough background checks through online
verification and authentication of individuals enabling
organisations to safeguard, recruit and engage with confidence.
Trace & Investigate - Leading software and services which
provide the most accurate and up-to-date picture of the UK's
population, properties and businesses to quickly locate,
investigate and contact the right individual, first time.
GB Group is listed on the London Stock Exchange (GBG). For more
information, please visit GB Group's website: www.gbgplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBIGDSLDDBGUX
Gb (LSE:GBG)
Historical Stock Chart
From May 2024 to Jun 2024
Gb (LSE:GBG)
Historical Stock Chart
From Jun 2023 to Jun 2024