StockMarketWire.com - GB Group, the identity data intelligence specialist, expects to report profits for the 6 months ended 30 September in line with expectations/

The group expects to report an adjusted operating profit of at least £5.0 million (2015: £4.5 million), an increase of over 11% on last year.

GBG says trading during the first six months of the year has been robust with revenue of £37.5 million which represents year-on-year growth of approximately 16%.

Organic growth was approximately 9% which would have been higher but for the roll out the GOV.UK Verify project across central Government departments being slower than originally forecast by GDS (the Government Digital Service).

An update says: "The market opportunities for our identity data intelligence products remain compelling and we are well positioned to take advantage of them. The Board remains confident in the outlook for the full year."

Chief executive Richard Law added: "I am pleased with the performance of GBG in the year to date. IDscan Biometrics, acquired in June of this year, has settled in well; we continue to expand our business internationally; and we remain very positive about the future prospects for the Group.

"I am pleased that GBG has managed to secure the appointment of Chris Clark as its new CEO, who will join us in April 2017.

"I'm very proud of the substantial international business that the GBG Team has built during my time as CEO and I'm confident that Chris will continue the strong progress made to date and lead the Group to its next stage of growth and advancement. I will continue as CEO until Chris's arrival."





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