Provisional Profit Reports are Good for GB Group
18th February, 2009
GB Group, the British age and identity verification company, has announced provisional financial results for the last quarter is showing revenues for the period up by 10% year-on-year to £5.27million.
According to the Chester-based firm revenues were up by a third for its Data Authentication identity verification business, to more than 2.5 Million pounds compared with the same period a year ago.
For the nine months up to December 2008, GB Group reported that revenues improved by 33%, however this did include a one-off settlement for licence arrears. Net Profits and share –based payments for the period improved to £440,000, from a loss of £860,000 the previous year.
Including the settlement, GB said that its profits before taxation and share based payments increased to £780,000 while its cash balance grew to £4.3million from £1million.
The company’s group profits before tax amounted to £131,000, which was up nealry double from £74,000 in 2007.
GB revealed that revenues in January were approximately 10% ahead of the same period in 2008 and that it is continuing the trend.
By Rommon
