GBG reports strong earnings growth ahead of final results

Identity data intelligence specialist GB Group updated the market on its trading performance for the year to 31 March on Wednesday, in advance of the release of its final results.

The AIM-traded company’s board said it expected to report an adjusted operating profit performance of £17m, a 27% increase on the prior year and ahead of market consensus.

Revenue growth was expected to be 19%, of which 12% was organic - an improvement on the 11% organic growth recorded at the half-year stage.

Net cash balances at 31 March - following the settlement of earn outs on prior acquisitions and the payment of a dividend to shareholders - were £5.2m, down from £8.7m year-on-year.

“I would like to congratulate and thank the team at GBG, our customers and partners for helping us achieve this result,” said GBG CEO Chris Clark.

“I look forward with confidence to the new year; working with our great team and customers to continue to deliver sustainable growth and shareholder value creation.”

The group's detailed full year results would be announced on 6 June, the board confirmed.