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LONDON (Alliance News) - Data intelligence firm GB Group PLC on Thursday said it expects operating profit to fall in its first half, though results are set to meet expectations.
For the six months to September 30, GB's adjusted operating profit is guided to be around GBP8.7 million, 16% lower year-on-year. However, on an underlying basis, the figure will be approximately 7% higher year-on-year.
GB expects interim revenue at GBP57.2 million, 9% higher on the prior year, with organic growth at around 11%.
"Our business is performing well and we have delivered the underlying level of growth we expected during the period," said Chief Executive Chris Clark.
"Our pipeline is looking strong in terms of opportunities for our core products and markets and that gives us good momentum as we head into the second half of the year. We remain confident in meeting full-year consensus revenue and profit expectations."
He added: "We have also acquired VIX Verify, which makes us even stronger in the area of identity and location verification solutions. This will support our growing businesses in Australia, New Zealand and the Asia-Pacific.
"With synergies, the transaction is expected to be earnings accretive in the first 12 months of consolidated GB Group ownership."
GB plans to release results for the period on November 27. Shares were 7.3% lower on Thursday morning at a price of 472.94 pence each.
