Last checked at 13 Jul 2009 07:00
Embargoed until 13 July 2009
GB Group plc
("GB", "Group" or "the Company")
INTERIM MANAGEMENT STATEMENT
GB, the identity management specialist, announces its Interim Management Statement to cover the period from 1 April 2009 to 13 July 2009, incorporating financial information relating to the performance of the business for its first quarter ended 30 June 2009, in line with the UK Listing Authority's Disclosure and Transparency Rules.
Overview by the Chief Executive
Group profits before taxation were marginally ahead of the same period last year at £135,000 (2008: £41,000). The level of demand for GB's services is affected by the level of consumer activity in the economy and, as we highlighted at the time of our Annual Results announcement in June, like-for-like demand has been lower in the early months of this year compared to last year. The impact of this has been partially offset by gaining new customers and strong business efficiencies. The business has continued to be profitable and cash generative and GB's balance sheet has strengthened accordingly. Our prospects remain good and this is reflected in the proposed increase to this year's final dividend.
Highlights for the quarter ended 30 June 2009
Group revenues were £5.0 million (2008: £5.7 million). The revenue in the same period last year included a one-off settlement of £0.4 million for licence arrears (the "Settlement") and, therefore, underlying revenues from operations were £0.3 million lower than the same period last year.
Group profit before taxation, excluding the effect of the Settlement, was marginally ahead of the same period last year at £135,000 (2008: £41,000).
Cash balances at 30 June 2009 were £5.3 million (31 March 2009: £4.5 million).
A final dividend of 1.15p per share, an increase of 15% on last year's payment of 1.00p per share, will be proposed to shareholders at the Annual General Meeting to be held on 30 July 2009.
Outlook
GB continues to demonstrate leadership in the emerging market for identity management. We believe that identity management is a fundamental enabler of online business and, accordingly, this represents an exceptional opportunity for the Group. We remain confident that the ability to prove age and identity electronically and subsequently to manage customers effectively over the Internet is a prerequisite for every online business, and that GB is well placed to address this market.
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For further information, please contact:
| GB Group plc | |
| Richard Law, Chief Executive Dave Wilson, Group Finance Director | 01244 657333 |
| Weber Shandwick Financial Nick Oborne/Clare Thomas | 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™