GB Group has reported a positive interim revenue update, surpassing market expectations.
- The company’s shares rose by 11% following the announcement of its financial performance.
- First-half revenue was reported at £137m, an increase from last year’s £132.4m.
- Adjusted operating profits increased significantly by 21%, reaching £29m.
- The firm aims for continued growth driven by strategic priorities and market leadership.
GB Group, a prominent provider of identity verification and location intelligence services, announced its interim trading results, showcasing a better-than-expected financial performance. The London-listed company saw its shares surge by 11% on the back of this news.
The firm’s revenue for the first half of the year was approximately £137 million, reflecting a modest growth from £132.4 million the previous year. This result exceeded analysts’ forecasts, which anticipated a revenue of £135.5 million.
Additionally, GB Group’s adjusted operating profits increased by a notable 21% year-on-year, reaching £29 million. This figure surpassed analyst expectations by 2%, demonstrating the company’s robust financial health.
On a constant currency basis, the growth of the company’s primary sectors, identity and location services, was reported at 6.8%. This growth aligns with the strategic priorities outlined earlier this year by the newly appointed chief executive, Dev Dhiman.
Dhiman has focused on simplifying operations, achieving global alignment, enhancing performance-oriented culture, and accelerating innovation. He stated, “We have made encouraging progress in each of these areas,” highlighting the execution of a strong business pipeline and significant customer wins reinforcing GB Group’s leadership position.
Looking forward, GB Group’s board has reaffirmed its financial outlook for 2025, with expectations of mid-single-digit revenue growth adjusted for currency fluctuations, which is likely to lead to high single-digit increases in adjusted operating profit.
Overall, GB Group’s strong interim results and strategic focus contribute positively to its market standing and future growth outlook.
