8th Jun 2016 07:39
LONDON (Alliance News) - Identity data company GB Group PLC on Wednesday said its pretax profit pushed higher in the year to the end of March, ahead of market expectations, as revenue rose.
GB said its pretax profit for the year to March 31 was GBP9.3 million, up 57% from GBP5.9 million in the prior financial year. Revenue grew to GBP73.4 million, up 28% from GBP57.3 million, while organic revenue grew 16%.
GB said revenue was helped higher by its expansion internationally and by growing levels of new business from major blue-chip customers like British Airways and HSBC Holdings. The group was also boosted by Loqate, which it acquired in April 2015 and which reached profitability ahead of expectations.
The company will pay a dividend of 2.08 pence per share, up from 1.85p a year earlier.
"GB Group has had another strong year achieving record revenues and delivering profitability ahead of market expectations," said Chief Executive Richard Law.
"As a result we enter the new financial year with strong momentum and excellent prospects and I'm pleased to report that trading since the start of the year is in line with the board's expectations," he added.
GB shares were down 0.8% to 313.81 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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