(Alliance News) - GB Group PLC on Thursday said trading has been stronger than anticipated since its interim results were reported last December.
The identity data company said it now believes its results for the year ending March 31 will be ahead of consensus expectations, with forecast revenue to be at least GBP213 million and operating profit above GBP53 million.
For 2019, GB Group posted revenue of GBP143.5 million and adjusted operating profit of GBP32.0 million.
GB Group said its Identity division benefited materially through January and early February from increased transaction volumes driven by the well-publicised spike in bitcoin market activity and retail share trading in the US and Europe. It also saw a positive impact from the financial stimulus packages in the US.
The company said it will provide a further trading update on April 19 and will report its results for the year to the end of March in June.
GB Group shares were trading 3.8% higher in London on Thursday morning at 857.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Gb Group (GBG)