StockMarketWire.com - GBGroup expects to report a 50% increase in adjusted operating profit to £10.8m for the year to the end of March, which is ahead of market expectations.

The board said the group's strong performance continued and revenues for the year to 31 March are expected to have increased by approximately 37% to £57.3m.

Organic revenue growth is expected to be 15% with the balance coming from the acquisitions of DecTech and Transactis, made earlier in the year.

These acquisitions have further strengthened GBG's identity intelligence credentials and both businesses have integrated and performed very well in the period.

Over the course of the year, deferred revenue in the balance sheet (in respect of amounts invoiced under annual contracts, which will be recognised in future periods) is also expected to have increased by £3.2m to £9.9m, representing additional future value for the group.

Chief executive Richard Law said: "I'm extremely pleased that our results have, once again, exceeded market expectations. They reflect the substantial potential of our markets and the clear vision we have put in place to maximise that potential. Our high quality team is strongly motivated and committed to deliver continued growth. I believe that the prospects of the Group continue to be excellent."


At 8:12am: [LON:GBG] GB Group PLC share price was +4.13p at 193.5p



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