GB Group PLC Pre-close Trading Update and Notice of Results (3882U)
October 24 2017 - 2:00AM
UK Regulatory
TIDMGBG
RNS Number : 3882U
GB Group PLC
24 October 2017
Embargoed until 7.00 24(th) October 2017
a.m.
GB GROUP PLC
("GBG" or the "Group")
Pre-close Trading Update and Notice of Results
GBG (AIM: GBG), the identity data intelligence specialist,
provides the following trading update for the six months ended 30
September 2017 prior to the release of its half year results.
Group Trading Performance
The Group has continued to trade strongly in the first half of
the financial year and remains well positioned to meet the growing
demand for identity data intelligence products. Accordingly, the
Board's outlook for full year revenue and profit growth remains
unchanged and in-line with consensus expectations.
Revenue in the first half of the year has grown by 40% to
GBP52.6m, which amounts to an organic growth rate of approximately
17%. The organic revenue growth includes GBP3.5m from the sale of a
perpetual licence to a leading European bank, finalised in
September. This was payable on signing and therefore recognized in
full under GAAP. Perpetual licenses, which are sometimes beneficial
to large clients, form a small element of our annual revenues. Had
this been a fully delivered, 3-year agreement, payable in annual
instalments then our revenue recognition policies would have
resulted in an underlying organic growth rate of approximately
12%.
GBG expects to report adjusted operating profit for the half
year in excess of GBP10 million, an increase of over 90% on last
year. This is ahead of half year expectations due to the positive
effect on profitability resulting from the perpetual licence
agreement referred to above.
The recent acquisitions continue to perform well and have been
instrumental in driving GBG's international expansion. GBG DecTech,
GBG Loqate, IDscan and the latest acquisition PCA Predict, have all
had a strong first half, increasing our international presence and
opportunities.
Chris Clark, CEO of GBG commented:
"The performance of GBG since the beginning of April has been
very encouraging. The PCA Predict acquisition completed
successfully in May and the business has integrated well into the
Group, giving us new growth opportunities. Looking forward to the
second half, we again have high visibility (over 70%) of our full
year revenues and continue to grow well in the UK and
internationally."
The Group intends to publish its half year results on 28(th)
November 2017.
For further information please contact:
GB Group plc
Chris Clark, CEO
Dave Wilson, Group Finance Director
& Operations Director 01244 657333
Peel Hunt LLP (Nominated Adviser
and Broker)
Edward Knight
Nick Prowting 020 7418 8900
Newgate
Bob Huxford
Ed Treadwell 020 7653 9850
Website www.gbgplc.com
About GBG
GBG is a global specialist in Identity Data Intelligence. We
help organisations make decisions about the customers they serve
and the people they employ.
Through our fundamental belief that the digital economy relies
on everyone having access to data they can trust, GBG enables
companies and governments to fight fraud and cybercrime, to improve
the customer experience and help to protect the more vulnerable
people in our society.
Headquartered in Chester (UK) and with people in 17 countries,
GBG provides solutions to many of the world's biggest
organisations, from established brands like HSBC and Zurich
Insurance to disruptive newcomers such as Stripe and Plus500.
Find out more about how we use identity data intelligently at
www.gbgplc.com, following us on Twitter @gbgplc and visiting our
newsroom: www.gbgplc.com/newsroom
This information is provided by RNS
The company news service from the London Stock Exchange
END
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