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Wednesday 19 April 2017

GB Group building momentum

GBG LogoGB Group (GBG), the AIM-listed identity data intelligence software provider, has built upon its H1 performance (see GB Group continues strong growth path) through the remainder of the year.

Today’s trading update for the year ending 31 March 2017, states it expects to report revenue growth of 19% (12% of which was organic growth) and adjusted operating profit up 27% to £17m. Its share price opened up 5% on news of the results, which are ahead of market expectations.

After a lengthy search, new CEO Chris Clark joined GBG at the start of this month (see GB Group announces new CEO). Long-time CEO Richard Law, who announced his retirement this time last year, has left Clark a good foundation on which to build. We expect the acquisition of IDscan Biometrics in June last year (see GB Group – seeking new identity?) to provide additional opportunities for the business in 2017.  

Posted by Dale Peters at '08:45' - Tagged: results   trading   security   digital   update  

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