Shares in GB Group (GBG) rose 5 per cent after the identity intelligence specialist reported 40 per cent revenue growth to £52.6m for the six months to 30 September, with an organic growth rate of around 17 per cent. This was helped by the recent sale of a perpetual licence to a European bank.
IC TIP:
Buy
at
415p
Adjusted operating profits for the half year are expected to exceed £10m, up more than 90 per cent year on year – beating expectations. Management’s guidance hasn’t changed in terms of full-year revenue and profit growth. We noted in June that GB’s IDscan Biometrics business had garnered new customer wins, while the acquisition of Postcode Anywhere provides access to an addressable market of over $1bn.
