Identity data intelligence specialist GB Group (GBG) has scrapped its final dividend for 2020 and withdrawn its guidance for the coming year. The software group said that while some of its business areas are still experiencing growth, others are seeing reduced demand. It therefore has frozen pay, paused non-essential recruitment and restricted project spend.
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However management expects to report upbeat results for 2019, with a 47 per cent increase in adjusted operating profit to around £47m, ahead of market consensus. Total revenue for the year is expected to grow by 39 per cent to £199m, with organic revenues up by 11 per cent on a constant-currency basis.
