GB Group PLC
12 February 2008
Embargoed until 07.00 12 February 2008
GB GROUP PLC
('GB' or the 'Group' or 'GB Group')
INTERIM MANAGEMENT STATEMENT
GB Group Plc, the identity specialists, announces its Interim Management
Statement for the period to 12 February 2008.
Overview
At the time of the interim results in November 2007, it was indicated that the
Group expected to trade profitably for the remainder of its financial year to 31
March 2008. The Board is pleased to report that the Group moved into
profitability as anticipated.
The highlights for the quarter ended 31 December 2007 were as follows:
• Group revenues increased by 45% compared to the same period last year to
£4.8 million (2006: £3.3 million).
• Revenues from GB's identity verification business, DataAuthentication,
doubled to £2.0 million (2006: £1.0 million) compared to the same period
last year.
• DataIntegrity and DataSolutions, providers of identity based marketing
services, generated revenues of £2.8 million (2006: £2.2 million), an
increase of 27% compared to the same period last year.
• Group revenues increased strongly during October and November and, with
the overhead base substantially fixed for the second half of the year, the
Group became profitable in November.
• Revenues continued to grow in December, traditionally one of GB's
strongest months, with a significant proportion of the additional revenue
falling to profits. The Group generated profits before taxation in December
of approximately £229,000 compared to a loss of approximately £32,000 for
the same period last year.
• Group profits before taxation for the quarter to 31 December 2007 were
£74,000 (2006: £300,000 loss).
As a result of the move into profitability, the losses for the nine months to 31
December 2007 reduced to £0.9 million (2006: £1.2 million).
Current Trading
The Group has continued to trade profitability in the final quarter of the
financial year. Accordingly, Group revenues and profitability in January 2008
were materially ahead of January 2007.
Cash balances were £3.7 million at 31 January 2008 (27 November 2007: £3.6
million).
Outlook
The Board is pleased that following a period of significant investment in new
online products and services, the Group has moved into profitability and believe
that this represents an important milestone for the business.
The Board is confident about the Group's prospects.
Commenting on the announcement, Richard Law, CEO, said:
'The Group has continued to move towards the online delivery of its solutions,
all of which address the issues increasingly faced by businesses in relation to
the identity of their customers, in particular identity fraud. GB is now a more
efficient business with scaleable operations delivering growth in all areas.'
-Ends-
GB Group plc 01244 657333
Richard Law, Chief Executive
Mona Navin-Mealey, Finance Director
Weber Shandwick Financial
Ian Bailey 020 7067 0700
Rachel Martin
Hannah Marwood
Website www.gb.co.uk
Notes to Editors
About GB Group plc
GB believes that identity matters. Specialising in understanding consumer
identity, GB enables its clients to make more informed business decisions and to
communicate and interact more effectively with its customers through a deeper
understanding of their identity and behaviour. Utilising its proprietary
technology, GB can protect, predict and provide information that is used to
maximise customer value for some of the UK's largest organisations.
GB offers solutions that assist organisations to capitalise on the value of
their customers at every point of contact.
GB has three complementary offerings:
•Identity Capture and Maintenance (DataIntegrity) - providing accurate
contact information
•Identity Verification (DataAuthentication) - combating identity fraud,
money laundering and under-age gambling
•Identity Analysis (DataSolutions) - understanding, targeting and
retaining profitable customers
GB is listed on the London Stock Exchange (GBG). For more information, please
visit GB Group's website: www.gb.co.uk.
GB Group - because identity matters(TM).
This information is provided by RNS
The company news service from the London Stock Exchange
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