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GB Group Announced Preliminary Results for Year ending 31st March, 2008

GB announces its results for the year ended 31 March 2008. 

Highlights included:

• Group revenue in the year increased by 30% to £19.4 million (2007: £15.0 million) driven by growth across all areas of the business
• Revenue in DataAuthentication, GB’s identity verification business, increased by 56% to £7.5 million (2007: £4.8 million). Growth came both from new clients including Blyk and Ladbrokes and from increased volume usage by existing clients
• DataIntegrity and DataSolutions, providers of identity based marketing services, generated an increase in revenues of 17% to £11.9 million (2007: £10.2 million). We have continued to invest in and develop online variants of these products and services provided by these businesses 
• Profit in the second half of £0.6 million (2007: £0.6 million loss) was achieved. Full year losses were reduced substantially to £0.4 million (2007: £1.2 million)
• More than 50% of revenue is now derived from online services, providing greater scalability
• Cash balances at the year-end were £4.3 million (2007: £5.2 million)
• Increased dividend of 1p per share (2007: 0.75p) to be recommended to shareholders at the forthcoming AGM 

Commenting on current trading, Richard Law, CEO, said:

”GB continues to demonstrate leadership in the emerging market for identity management. Trading in the current year to date is in line with expectations and underlying revenue in April was approximately 35% higher than in the same period last year. I remain confident that GB’s future prospects are excellent.”                 

Click here for full details of the announcement.
Release date: 29 May 2008