24th Apr 2015 07:46
LONDON (Alliance News) - Identity intelligence services and software firm GB Group PLC said Friday that it expects to post a 50% rise in adjusted operating profit for the year to end-March, ahead of market expectations.
GB Group expects to post an adjusted operating profit of GBP10.8 million, increased from GBP7.2 million a year before, on revenue of GBP57.3 million, compared to GBP41.8 million, bolstered by acquisitions it made earlier in the financial year.
The company said the acquisitions, DecTech Solutions Pty Ltd and CDMS Ltd, also known as Transactis, have been integrated and performed well during the year.
GB Group said its identify proofing business posted achieved a rise in revenue of 66%, and its identity solutions business of 20%.
"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," said Chief Executive Officer Richard Law in a statement.
Shares in GB Group are trading up 3.0% at 195.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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