GB Group PLC Pre-close Trading Update and Notice of Results (9999M)
October 20 2016 - 1:00AM
UK Regulatory
TIDMGBG
RNS Number : 9999M
GB Group PLC
20 October 2016
Embargoed until 7.00 a.m. 20 October 2016
GB GROUP PLC
("GBG" or the "Group")
Pre-close Trading Update and Notice of Results
GBG, the identity data intelligence specialist, provides the
following trading update for the six months ended 30 September 2016
in advance of the release of its half year results.
Group Trading Performance
The Board is pleased to report that the business has continued
to perform well in the first half of the financial year.
Trading during the first six months of the year has been robust
with revenue of GBP37.5 million which represents year-on-year
growth of approximately 16%. Organic growth was approximately 9%
which would have been higher but for the roll out the GOV.UK Verify
project across central Government departments being slower than
originally forecast by GDS (the Government Digital Service).
We expect to report profits for the 6 months ended 30 September
2016 in line with expectations, with an adjusted operating profit
of at least GBP5.0 million (2015: GBP4.5 million), an increase of
over 11% on last year.
The market opportunities for our identity data intelligence
products remain compelling and we are well positioned to take
advantage of them. The Board remains confident in the outlook for
the full year.
Richard Law, CEO of GBG, commented:
"I am pleased with the performance of GBG in the year to date.
IDscan Biometrics, acquired in June of this year, has settled in
well; we continue to expand our business internationally; and we
remain very positive about the future prospects for the Group.
I am pleased that GBG has managed to secure the appointment of
Chris Clark as its new CEO, who will join us in April 2017. I'm
very proud of the substantial international business that the GBG
Team has built during my time as CEO and I'm confident that Chris
will continue the strong progress made to date and lead the Group
to its next stage of growth and advancement. I will continue as CEO
until Chris's arrival.
I would like to extend my very grateful thanks to our
shareholders for their support of GBG and our team."
Further information will be provided in the Group's half year
results which is expected to be announced week commencing 28
November 2016.
Note:
Adjusted operating profit means profits before amortisation of
acquired intangibles, share based payment charges, exceptional
items, share of results from associates, net finance costs and
tax.
For further information, please contact:
GBG
Richard Law, Chief Executive
Dave Wilson, Group Finance Director
& Operations Director 01244 657333
Peel Hunt LLP (Nominated Adviser
and Broker)
Richard Kauffer
Euan Brown 020 7418 8900
Newgate Communications
Bob Huxford
Charlotte Coulson
Ed Treadwell 020 7653 9850
Website www.gbgplc.com
About GBG
GBG is a global specialist in Identity Data Intelligence. We
help organisations make decisions about the customers they serve
and the people they employ.
Through our fundamental belief that the digital economy relies
on everyone having access to data they can trust, GBG enables
companies and governments to fight fraud and cybercrime, to improve
the customer experience and help to protect the more vulnerable
people in our society.
Headquartered in Chester (UK) and with 24 locations in 15
countries, GBG provides solutions to many of the world's biggest
organisations, from established brands like HSBC, Barclays and
Zurich Insurance to disruptive newcomers such as Xpress Money and
Stripe.
Find out more about how we use identity intelligently by
visiting www.gbgplc.com, following us on Twitter @gbgplc and
reading our blog: www.gbgplc.com/uk/blog
This information is provided by RNS
The company news service from the London Stock Exchange
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October 20, 2016 02:00 ET (06:00 GMT)