GB Group expects H1 revenue rise, profit
GB is today providing a trading update for the six months ended 30 September 2008 in advance of its interim results announcement which is scheduled for 26 November 2008.
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The Group has traded well and profitably throughout the first half of the financial year as follows:
GB continues to build on its lead in the identity management marketThe Group has enjoyed strong growth in revenues and improved profitabilityLike-for-like* revenue is expected to be approximately £11.2 million (2007: £7.9 million)Like-for-like* Group profit before taxation and share-based payments is expected to be approximately £0.3 million (2007: £0.93 million loss) GB's operations were cash generative during the period. Cash balances at 30 September 2008 were £4.2 million (2007: £4.08 million) after the payment of the increased final dividend of 1p per share in July 2008 amounting to £0.85 million
* Like-for-like revenue and profit does not include revenue of £0.35 million and profit of £0.33 million from a one-off settlement for licence arrears in the first quarter of 2008.