- Identity data intelligence specialist GB Group reports record revenues for the year to the end of March with profits ahead of market expectations.

Revenue rose by 28% to £73.4 million (2015: £57.3 million), with organic revenue growth of 16% (2015: 15%).

Adjusted operating profits were up 24% at £13.4 million with a 34% increase in adjusted basic earnings per share to 10.6p and a 57% increase in profit before tax (after exceptional costs) to £9.3 million.

Other highlights:

- Solid balance sheet and strong cash generation, resulting in cash balances at 31 March 2016 of £12.4 million (2015: £15.8 million), following payments of £14.5 million during the year for the cash purchase of Loqate, the settlement of earn outs on prior acquisitions and the payment of a £2.3 million dividend to shareholders

- A progressive 12.4% increase to the proposed dividend for 2016 to 2.08 pence per share (2015: 1.85 pence)

Chief executive Richard Law said: "GBG has had another strong year achieving record revenues and delivering profitability ahead of market expectations. This is testament to the hard work, dedication and talent of our excellent team.

"This was achieved whilst simultaneously increasing our operating expenditure on the development of new products, expanding our international operations and strengthening our management team. As a result we enter the new financial year with strong momentum and excellent prospects and I'm pleased to report that trading since the start of the year is in line with the Board's expectations."

At 9:17am: [LON:GBG] GB Group PLC share price was -3.75p at 312.5p

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