GB Group expects H1 revenue rise, profit

Source: GB Group

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.

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 market
  • The Group has enjoyed strong growth in revenues and improved profitability
  • Like-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.

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