Chester-based identity specialist GB Group said it expects half year operating profits to soar by around 40%.

In a recent trading update, which covers the six months leading up to September 30, it was reported that GB Group had achieved “a strong set of results” in its half year, with growth coming from both organic activities and acquired businesses.

It stated:

“The group expects to show an adjusted operating profit of not less than £3.7m (2013: £2.6m), an increase of over 40%.”

Chief executive Richard Law said:

“The performance in the first half of the year has been very pleasing across the entire group.”

“DecTech, which was acquired in April 2014 and which provides fraud detection and prevention solutions, is integrating well and making a strong contribution towards group performance.”

“We have maintained our strategy of investing to extend our identity intelligence capabilities together with leveraging the opportunities provided by our increasing global reach.”

“The proposed acquisition of Transactis, announced on October 13, 2014, further enhances our prospects and we expect our strong performance to continue through the second half of the year.”

The group will announce its detailed half year results on November 24.

Source: Liverpool Echo
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Words: Daniel Pearce