Business
Interim Results
Interim Results.
About this update from Gb Group Plc
[{"type":"text","content":"\n RNS Number : 9408I GB Group PLC 26 November 2008 \n \n\n\n\n\n\n\nEmbargoed until 7.00 a.m.\n\n\n26 November 2008\n\n\n\n\n\n\nGB GROUP PLC \n('GB' or the 'Group')\n\nInterim Results for the Six Months Ended 30 September 2008\n\nGB is today pleased to announce interim results for the six months ended 30 September 2008.\n\nHighlights\n\n\n\nGroup revenue in the six months to 30 September 2008 increased by 43% to £11.3 million (2007: £7.9 million) and profit before tax improved significantly to £0.5 million (2007: £1.0 million loss). This strong growth was in line with expectations\n\n\n\n\n\nGrowth has been driven by the continued move away from paper-based, manual methods of age and identity verification to the online electronic methods provided by our identity verification services, URU™ and ID3® Check\n\n\n\n\n\nRevenue in DataAuthentication, GB's verification business, increased to £6.4 million (2007: £2.8 million)\n\n\n\n\n\n\nGrowth came from new clients, including FCE Bank plc, Victor Chandler, ASOS and Adecco, and from increased volume usage by existing clients\n\n\n\n\n\n\nDataIntegrity and DataSolutions, providers of identity-based marketing services, generated like for like revenues of £4.9 million (2007: £5.1 million)\n\n\n\n\n\n\nWe have reinforced our aim of securing future revenue through online transaction services with the launch of an enhanced version of e-Trace, our online tracing product\n\n\n\n\n\n\nCash balances at 30 September 2008 were £4.2 million (2007: £4.08 million)\n\n\n\n\n\nGroup revenue in October 2008 was approximately 20% ahead of the same month last year\n\n\n\nCommenting on the results, John Walker-Haworth, Chairman of GB, said:\n\n'GB has demonstrated significantly improved profitability and cashflow in the first half of the year compared to the same period last year. \n\nOur focus on the identity management market has enabled the Group to lead this emerging sector and we consider that GB is well placed to address this growing market which, despite difficult market conditions, we believe has considerable revenue potential.'\n\nFor further information, please contact:\n\n\n\n\n\nGB Group plc\n\n\n01244 657333\n\n\n\n\nRichard Law, Chief Executive\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWeber Sha...