Trading Update

RNS Number : 2576Q

GB Group PLC

25 February 2021

 

Embargoed until 7.00 a.m.

25 February 2021

GB GROUP PLC

("GBG" or the "Company")

Trading Update

GBG, (AIM:GBG) the global identity data intelligence specialist, provides an update on its trading performance for the year to 31 March 2021.

Trading has been stronger than anticipated since the Company's interim results were reported last December.  In particular, the Company's Identity division benefitted materially through January and early February from increased transaction volumes driven  by the well-publicised spike in bitcoin market activity and retail share trading in the US and Europe.  It also saw a positive impact from the financial stimulus packages in the US. 

As a result of this, the Board now believes the financial results for the full year will be ahead of consensus expectations with forecast revenues to be at least £213 million and operating profit above £53 million.

The Group expects to provide a further update on trading during the week commencing 19 April 2021 and to report its results for the year to 31 March 2021 in June 2021.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Enquiries

GBG Chris Clark, CEO & Dave Wilson, CFO & COO	[phone]
Peel Hunt LLP (Nominated Adviser and Broker) Edward Knight, Paul Gillam & Nick Prowting	[phone]
Tulchan Communications LLP James Macey White & Matt Low	[phone] [e-mail]
Website	www.gbgplc.com/investors

About GBG

GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers.

Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience and establish trust, so that they can transact quickly, safely and securely with their customers online. 

Headquartered in the UK and with over 1,000 team members across 16 countries, we work with 20,000 customers in over 70 countries. Some of the world's best-known businesses rely on GBG to provide digital services and keep the economy moving, from US e-commerce giants to Asia's biggest banks and European household brands. 

To find out more about how we help our customers establish trust with their customers, visit  www.gbgplc.com  and follow us on LinkedIn and Twitter@gbgplc.

 

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