Pre-close Trading Statement

RNS Number : 3088F

GB Group PLC

21 April 2011

 



Embargoed until 7.00 a.m.

21 April 2011

GB GROUP PLC

("GB" or the "Group")

Pre-close Trading Statement

GB, the identity management specialist, provides the following trading update for the year to 31 March 2011, in advance of the release of its annual results which are scheduled to be announced at the start of June 2011.

The Group is expected to announce profits ahead of the market consensus, which had been upgraded in October 2010. Profit for the year before interest, tax, exceptional costs and share-based payments is expected to be approximately £1.9 million (2010: £1.3 million). 

Further highlights for the year to 31 March 2011 are as follows:

·     Revenues are anticipated to be circa £24.4 million, an increase of 10% compared to the same period last year (2010: £22.2 million). 

·     The better than expected profitability came principally from increased gross margins in the DataSolutions business.  The rate of growth in the DataAuthentication business improved as the year progressed.

·     Net cash balances were £6.2 million at 31 March 2011 (2010: £5.7 million) after the payment of a dividend during the year of 1.2p per share (2010: 1.15p), amounting to £1.0 million, and investment in capital expenditure of £0.4 million (2010: £0.5 million).

The Group will provide further details of its trading performance at the time of its annual results announcement.

Richard Law CEO said, "GB has benefited from the strength of its software and services which it has sold successfully against its competitors. Creating differentiation is something that we do well and ongoing investment is keeping our software and services at the forefront of their markets.  This remains GB's principal strategy for continued, organic growth.  We enter the current year with confidence in continued growth."

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For further information, please contact:

GB Group plc	01244 657333
Richard Law, Chief Executive Dave Wilson, Finance Director
Peel Hunt (Nominated Advisor and Broker) Richard Kauffer Daniel Harris	020 7418 8900
Weber Shandwick Financial Nick Oborne John Moriarty	020 7067 0700
Website	www.gb.co.uk

 

Notes to Editors

About GB Group plc

The most successful organisations recognise the value of understanding your individual identity - who you are, what you need and what you like. GB combines this concept of identity with technology to create an environment of trust so that organisations can connect, communicate and transact with consumers safely, responsibly and profitably. We call this identity management.

GB Group has four complementary identity management offerings:

·  ID Verification, which provides the ability to verify consumers' identities remotely, without the physical presentation of documentation, in order to combat ID fraud, money laundering and restrict access to under age content, purchases and gambling.

·  ID Customer Registration, which includes software and services for quick and accurate customer registration and validation of records.

·  ID Marketing Services, which provides database services so our clients can better understand, target and retain their customers and offers accurate and up-to-date identity information for their contact strategies.

·  ID Tracing Services, which provides the largest and most accurate picture of the UK's population and properties in order to locate and contact the right individual, first time.

This enables our clients to make informed business decisions based on a thorough knowledge of consumer identity and behaviour, leading to more effective communication and interaction with the customer.

GB is listed on the London Stock Exchange (GBG). For more information, please visit GB's website: www.gb.co.uk.

GB Group - because identity matters™  

 

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