17th Apr 2019 09:52
LONDON (Alliance News) - Shares rose in GB Group PLC on Wednesday as it guided for operating profit and revenue for its recently ended financial year to be ahead of market consensus.
Shares in the identity data intelligence firm were 11% higher at 607.00 pence on Wednesday.
Adjusted operating profit for the year to the end of March is expected to be GBP31.7 million, up 21% from GBP26.3 million the year before, while revenue is set to be GBP143.3 million, marking 20% growth from GBP119.7 million.
Net debt as at March 31 was GBP66.3 million, swinging from a cash position of GBP13.5 million following the acquisitions of Vix Verify Global in October and IDology in February.
"This has been a transformational year for GBG underpinned by good performance across all regions and all our core propositions. During the period we completed the acquisitions of VIX Verify Global and IDology, which have bolstered our international reach and capabilities in the growing identity sector. We are pleased that both acquisitions have integrated and performed very well since joining GBG," said Chief Executive Chris Clark.
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