Gb Group Share News (GBG)

Wed, 8th Jun 2011 07:44

* Pretax profit 1.7 mln stg vs 1.3 mln stg last year

* Revenue rises 10 pct to 24.4 mln stg

* Plans to raise final dividend by 6.25 pct to 1.275p/shr

* Sees growth for the current year



Jun 8 (Reuters) - British identity checking firm GB Group posted a higher full-year profit that beat market expectations as more companies adopt electronic methods for ID verification.

The company, which provides software to combat identity fraud, also forecast growth for the current year.

Pretax profit rose to 1.7 million pounds ($2.8 million)for the year ended March 31, from 1.3 million pounds a year ago.

Revenue rose 10 percent to 24.4 million pounds, boosted by demand for its identity-based software and services.

The company plans to raise its final dividend by 6.25 percent to 1.275 pence per share.

Shares in GB Group, whose clients include bookmaker William Hill, insurance group HomeServe and the National Fraud Intelligence Bureau, closed at 40.5 pence on Tuesday on the London Stock Exchange. They have gained 12.5 percent in the last six months.

($1 = 0.610 British Pounds)

(Reporting by Purwa Naveen Raman in Bangalore; Editing by Don Sebastian) Keywords: GBGROUP/

(purwa.naveen@thomsonreuters.com; within UK +44 20 7542 1810; outside UK +91 80 4135 5353; Reuters Messaging: purwa.naveen.thomsonreuters.com@reuters.net)

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