Business
Pre-Close Trading Statement and Directorate Change
Pre-Close Trading Statement and Directorate Change.
About this update from Gb Group Plc
[{"type":"text","content":"\n \nRNS Number : 7087V GB Group PLC 20 April 2016 \n\n \n \n \n\n\n\n\nEmbargoed until 7.00 a.m.\n\n\n20 April 2016\n\n\n\n\n \nGB GROUP PLC \n(\"GBG\" or the \"Group\")\n \nPre-Close Trading Statement and Directorate Change\n \nGBG, the identity data intelligence specialist, today provides an update on its trading performance for the year to 31 March 2016, in advance of the release of its final results. \n \nGroup Trading Performance \nThe Board is pleased to report that the Group's strong growth has continued and, as a result, the Group expects to report an increase in adjusted operating profit† to £13.4 million (2015: £10.8 million) which is ahead of market expectations. \n \nThis result is particularly impressive given that the business invested an additional £3.4 million of operating expenditure in the year to 31 March 2016, to increase the scale and reach of its international operations, strengthen the senior management team and develop new products for its growing markets. These initiatives give GBG a strong momentum and an enhanced strategic position in the new financial year and into the future. \n \nOther operational highlights \n· The Group continues to be highly cash generative. Cash balances at 31 March 2016 (following payments in excess of £14 million for the cash purchase of Loqate, the settlement of earn outs on prior acquisitions and the payment of a dividend to shareholders) were £12.4 million (2015: £15.8 million) with net cash balances of £8.7 million (2015: £11.4 million). \n \n· International revenues, a key strategic measure, increased to 27% of Group revenue in the year to 31 March 2016 (2015: 19%). \n \n· Loqate, which became part of the Group in April 2015, grew well during the year and reached profitability earlier than had been anticipated. It finished the year ahead of management's expectatio...