Gb Group Regulatory News (GBG)

12 Jul 2006 07:00

GB Group PLC12 July 2006 Embargoed until 07.00 12 July 2006 GB GROUP PLC ("GB" or the "Group") AGM TRADING UPDATE STATEMENT At the Annual General Meeting to be held today at noon in Chester, JohnWalker-Haworth, Chairman of GB Group, will give the following trading updatestatement to shareholders: "The Group has continued to generate revenue growth in the first quarter of thecurrent financial year with Group revenues increased by 14% compared to the sameperiod last year. DataAuthentication DataAuthentication, whose current principal offering is URU(TM), has continuedits strong performance. Revenue in the first quarter increased to £1 million upfrom £384,000 in the same period last year. Likewise, transaction volumes forthe URU service grew from 250,000 in the first quarter last year to 700,000 inthe first quarter of the current financial year, reflecting both the increase inclient numbers and the growth in size and strategic importance of these clients. URU(TM) client numbers continue to increase and now stand at 114 compared to 105at 1 June 2006. We are very pleased by the number of new clients which are nowcoming from the Financial Services sector, and we believe this is indicative ofthe growing recognition and acceptance of URU(TM) as the leading electronicsolution for age and identity authentication. DataIntegrity and DataSolutions GB's traditional services, DataIntegrity and DataSolutions, continue to operatein challenging and competitive markets and this is reflected in the firstquarter performance which is marginally lower than the previous year. Asindicated in June, GB intends to differentiate its offerings in these markets byproviding its services online and these services are expected to be operationalduring the second half of the year. Cash Group cash balances remain strong at £6.6 million. During the year, ourinvestment plans for both DataAuthentication and our traditional services,together with investment in our group-wide infrastructure, are expected toresult in net cash outflow. As announced at the time of our results last month,however, we do not expect Group cash balances to fall below £5.0 million duringthe course of the year. Prospects This is an exciting time for GB with substantial opportunities for the businessand the Board has a very positive view of GB's prospects." - Ends - For further information, please contact: GB Group plcRichard Law, Chief Executive 01244 657333Mona Navin-Mealey, Finance Director Weber Shandwick Square Mile 020 7067 0700Richard HewsHelen Thomas Website www.gb.co.uk Notes to Editors About URU(TM) URU is an electronic identity verification service which was developed jointlywith BT and is DataAuthentication's principle offering. URU, which is powered byGB's ID3(TM) search engine and decision making technology, provides access toGB's comprehensive range of identity data and BT's high capacity web delivery.It helps organisations to protect themselves from the growing problem ofidentity theft and fraud, which is estimated to cost the UK economy over £1.7billion per annum. URU enables companies subscribing to the service to make aninstant decision whether to accept the identity claimed by any given individualand confirm their age in seconds. URU works by cross checking personal information provided by an individual atthe point of acquisition against a comprehensive range of datasources to confirmthat an individual is who they claim to be, live where they claim to live andmeet certain minimum legal age requirements. No personal data is disclosed by the reference databases and as a result URU iscompliant with the Data Protection Act. URU also provides a valuable audit trail demonstrating that the necessary checkshave taken place, thereby helping companies comply with legislation, includingthe 2nd European Money Laundering Directive, Proceeds of Crime Act and MinimumLegal Age requirements of certain industry sectors. The addition of data from CallCredit also enables users of URU to incorporatecredit reference data. As a result of legislation, new opportunities and social responsibilityrequirements, the market for electronic ID verification is significant andgrowing. Although an estimated 0.5 billion manual ID checks are conductedannually in the UK, less than 3% of these are currently performedelectronically. URU has demonstrated that electronic checks are more effective, less expensiveand more robust. The market is moving towards electronic checks as fraudulent documents becomeever more sophisticated, more readily available and more difficult to checkmanually. It is estimated that by 2010, the market for electronic ID checkscould be 300 million checks per annum. GB works closely with trade and industry associations, such as the Finance andLeasing Association, the Remote Gambling Association and the FinancialTechnology Research Centre, to advise businesses that more robust processes canprevent financial crime. We have worked closely with the Gaming Industry toaddress social issues such as underage gambling and addiction and our SocialResponsibility Consultancy helps Gaming operators formulate best practice tocomply with regulatory requirements and improve profitability. About GB Group plc GB Group plc provides a range of products and services to enable organisationsto capitalise on one of their greatest assets - customer data. The Company hasexpertise across a range of sectors and is able to transform customer data intovaluable information, enabling clients to make better, more informed decisions. The development of innovative software and services, through to the provision ofthe UK's most comprehensive consumer business databases - The National Register(R) and the National Authentication Register - positions GB Group as a widelyacknowledged industry leader in its specialist markets. We are constantly improving business processes by building on our core values ofInnovation, Quality and Excellence. This is reflected in our customersatisfaction surveys and also through research, carried out by ManchesterBusiness School, which confirms our products are out performing the competition. GB Group plc has three complementary offerings: • DataAuthentication helps businesses validate personal identity information and provides anti-fraud solutions to fight crime. • DataIntegrity helps companies capture and maintain accurate customer contact data, an essential foundation for any profitable customer relationship. • DataSolutions empowers companies to consolidate and analyse customer data from various sources, enabling them to make better, more informed decisions. Established since 1989, GB's core competencies combined with industry sectorknowledge have enabled the company to deliver significant value to organisationssuch as Standard Life, Scottish Power and TD Waterhouse in helping them derivemaximum value from their customer data and sustain real advantage over theircompetition. GB Group is supported by its key relationships with major organisations withwhom it works with on major initiatives (an example being British Telecom),together with a team of highly talented and motivated staff successfullydelivering business solutions. GB Group plc is listed on the London Stock Exchange (www.gb.co.uk). This information is provided by RNS The company news service from the London Stock Exchange