18th Apr 2018 10:43
LONDON (Alliance News) - Identity data intelligence firm GB Group PLC's shares rose Wednesday as it said annual operating profit and revenue will beat market consensus.
Shares were up 13% Wednesday at a price of 463.00 pence each.
For its year ended March, GB Group is guiding for adjusted operating profit of around GBP26.0 million. This would be 53% ahead of its prior year's GBP17.0 million.
Likewise, revenue growth is guided to be around 37%, with revenue at GBP119.7 million.
Both figures, GB Group said, would mean the company has outperformed market expectations.
Net cash at the end of March was GBP13.4 million, from GBP5.2 million the same time a year prior.
Chief Executive Chris Clark said: "I am delighted with GBG's performance, in this my first year, which was made possible by the great team of people at GBG. We remain confident in the strength of our existing products and services and the momentum across the business."
"This encouraging update is testament to the dedication of our team members across the globe and I want to thank everyone at GBG for their continued hard-work and contribution."
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