An identity verification specialist has reported a rise in its half-year revenue days after announcing the acquisition of a US counterpart in a deal worth £547m.
Chester-headquartered GB Group (GBG) has posted a revenue of £109.2m for the six months to the end of September 2021, up from the £103.5m it reported for the same period in 2020.
The group’s pre-tax profits dipped slightly from £14.9m to £14.4m, according to the figured filed with the London Stock Exchange.
The update comes after GBG snapped up identity verification and KYC/AML compliance provider Acuant.
Chief executive Chris Clark said: “I am extremely pleased with these results and the significant progress we have made strategically.
“These results reflect both the considerable potential in our markets and the commitment and expertise of our highly motivated team at GBG.
“Our goal is to be the global leader in location, identity and identity fraud solutions and the professionalism and hard work of the GBG team has helped us make significant advances this year.
“I am particularly proud that despite so many outside challenges on our people we maintained our focus on engagement and we continue to be recognised as a great place to work.
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we’ll send out breaking news alerts for any stories we think you can’t miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more – and the news as it breaks – follow our BusinessLive North West LinkedIn page here.
“We have strengthened our leadership position in our markets both organically and also, post half year end, by adding new customers, technology and people through welcoming Acuant to the GBG family.
“I am excited by the potential Acuant unlocks for the group, this combination accelerates our strategic progress by some two years and strengthens our solution set addressing the fast-growing problem of identity fraud.
“Looking to the rest of this year we are focussed on executing our plans, optimising the considerable assets now at our disposal and delivering exceptional value to our customers, opportunity to our team members and long-term value to our shareholders.”
Business News Governmental News Finance News
Need Your Help Today. Your $1 can change life.