Chester's GBGroup reports 40% increase in operating profit

Chester-based identity intelligence specialist GBGroup is expecting a minimum adjusted profit of £3.7 million in advance of the release of its half year results.

GBGroup, which is based at Chester Business Park, has reported a strong set of results in its half year to 30 September 2014 with growth coming from both its organic activities and acquired businesses.

The Group expects to show an adjusted operating profit of not less than £3.7 million, compared to £2.6 million in 2013, an increase of over 40%.

The Group’s detailed half year results will be announced on 24 November 2014.

Richard Law, GBG’s CEO, 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 13 October 2014, further enhances our prospects and we expect our strong performance to continue through the second half of the year.”