Last checked at 16 Jul 2008 07:00
16 July 2008
GB Group PLC
("GB", "Group" or "the Company")
AGM AND FIRST QUARTER INTERIM MANAGEMENT STATEMENT
GB, the UK's leading identity management business, will hold its Annual General Meeting in Chester today at 11 a.m. At that meeting, the following update will be given on the Group's trading performance after the first quarter of the new financial year.
This update also serves as the Interim Management Statement of the Company for the period 1 April 2008 to 16 July 2008 in line with the UK Listing Authority's Disclosure and Transparency Rules.
Trading Update
The Group has continued to trade well during the first quarter ended 30 June 2008. Highlights for the quarter were as follows:
Group revenues rose 57% to £5.75 million compared to £3.67 million in same period last year. This revenue included a one-off settlement for licence arrears ("Settlement") of £350,000 and, therefore, revenues from operations conducted during the period were £5.40 million, 47% ahead of the same period last year.
Group profit before taxation, excluding the effect of the Settlement, was £41,000 compared to the first quarter loss of last year of £665,000. Group profit before taxation including the Settlement was £374,000.
Excluding the Settlement, the year-on-year improvement in revenue and profitability was £1.73 million and £706,000, respectively. This illustrates the favourable effect of operational gearing since the Group became profitable in the second half of the last financial year.
Cash balances at 30 June 2008 were £5.0 million (March 2008: £4.31 million). This is before the payment of the proposed final dividend of 1p per share, an increase of 33% on last year's payment of 0.75p per share.
Commenting on the results GB's CEO Richard Law said:
"GB's focus on the identity management market has enabled the Group to lead in an emerging sector, which has all the appearances of showing substantial and sustained growth. The ability to prove age and identity electronically and subsequently to manage customers effectively over the internet is a prerequisite for every on line business and GB is exceptionally well placed to address this growing market.
We are pleased to report excellent progress in the year to date and I remain confident about the Group's prospects".
- Ends -
For further information, please contact:
| GB Group plc | |
| Richard Law, Chief Executive | 01244 657333 |
| Weber Shandwick Financial Ian Bailey / Rachel Martin / Hannah Marwood | 020 7067 0700 |
| Website | www.gb.co.uk |
Notes to Editors
About GB Group plc
GB Group believes that identity matters. Specialising in understanding consumer identity, GB enables its clients to make more informed business decisions and to communicate and interact more effectively with its customers through a deeper understanding of their identity and behaviour. Utilising its proprietary technology, GB can protect, predict and provide information that is used to maximise customer value for some of the UK's largest organisations.
GB offers solutions that assist organisations to capitalise on the value of their customers at every point of contact.
GB has three complementary offerings:
Identity Capture and Maintenance (DataIntegrity) - providing accurate contact information
Identity Verification (DataAuthentication) - combating identity fraud, money laundering and under-age gambling
Identity Analysis (DataSolutions) - understanding, targeting and retaining profitable customers
GB is listed on the London Stock Exchange (GBG). For more information, please visit GB Group's website: www.gb.co.uk.
GB Group - because identity matters™