Source: GB Group
Interim Results for the Six Months Ended 30 September 2007
Highlights The Group is expected to generate profits for the remainder of the financial year to 31 March 2008.Group revenue increased by 13% to £7.9 million (2006: £7.0 million).DataAuthentication revenues increased to £2.8 million (2006: £2.5 million).Number of individual transaction searches in DataAuthentication (excluding one-off batch verifications) increased to 2.2 million during the period (2006: 1.6 million). Combined revenue from DataIntegrity and DataSolutions was £5.1 million (2006: £4.6 million).
Group loss before tax in the six months to 30 September 2007 was significantly less than expected at £1.0 million (2006: £0.6 million).Cash balances were £3.6 million at 30 October 2007 and the Group expects to generate cash for the remainder of the year.During October, the rate of growth increased across the Group.URU currently has 202 clients compared to 174 in May 2007 and transaction searches were 32% higher than the monthly average from the previous quarter.
John Walker-Haworth, Chairman, commented: "GB continues to provide market leading products and services in each area of its business. The Group delivered improved revenue growth during the first half of the year and your Board is very positive about prospects."
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