Finals3 Jun 2013 08:55
Data security specialist GB Group said strong revenue growth and margin improvements resulted in profits ahead of market expectations for the full-year. The group saw 24% revenue growth to £39.4 million (2012: £31.8 million), with underlying organic revenue growth of 7% (2012: 11%). There was a 51% increase in adjusted operating profits to £5.5 million (2012: £3.7 million). GB enjoyed a 40% increase in profit before tax to £3.5 million (2012: £2.5 million). There was a 28% increase in adjusted basic earnings per share to 5.0p (2012: 3.9p). Strong balance sheet and good cash generation, resulted in cash balances of £6.3 million (2012: £4.8 million) after dividend payment (£1.5 million) and cost of investing activities (£3.0 million). There was a 9% increase to the proposed dividend for 2013 to 1.5 pence (2012: 1.375 pence). GB enhanced its identity intelligence capabilities through strategic acquisition of TMG.tv Limited and increased investment in Loqate, Inc. Five new countries added to the Group's international EIDV service, ID3global, including China and Argentina, increasing the number of countries covered to 20 (2012: 15) and the number of people GBGroup is able to verify globally from 0.7 billion to 2 billion. Commenting, Richard Law, CEO, said: "Increasingly, commerce is being influenced by the online world and an ever more mobile population. Organisations now trade and interact with many more customers, over longer distances and in situations that are rarely face-to-face presenting new challenges for verifying and maintaining contact with customers. In the year ahead, we will continue to focus on making business easier and safer for our clients by investing in our international verification network (ID3global) and in widening our capabilities in other areas to strengthen our position in this significant global market. "I am very pleased with the progress achieved by GBGroup over the last year. Our professional and talented team has performed excellently and continues to grow in skill and strength. This, taken together with the positive growth prospects for our markets, means we remain confident for the year ahead."
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