StockMarketWire.com - Identity data intelligence company GBG said it expected half-year adjusted profit to more than double as acquisitions continued to spur revenue growth.

For the six months to 30 September 2019, the company expected to report adjusted operating profit of approximately £20.9m, a 138% increase on last year.

Revenue was expected to be up 64% at £93.7m, reflecting recent acquisitions of Vix Verify and IDology, supplementing positive underlying trading across our key growth areas of location, identity and fraud, the company said.

'The positive first half performance was additionally helped by the favourable timing of some contracts for our Fraud division, which have been brought forward into H1. So far H2 has begun well and at this stage we remain confident in meeting full-year consensus revenue and profit expectations,' the company added.

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