Interim Results 2006
GB Group announced Interim Results for the six months ended September 2006.
The main highlights are as follows:
- Group revenue increased by 18% to £7.0 million (2005: £5.9 million) due to increased sales in DataAuthentication which provides online age and identity verification solutions.
- DataAuthentication revenues increased to £2.5 million (2005: £0.9 million).
- Investment phase in DataAuthentication in the UK is now nearing completion and this business should be cash generative, ahead of schedule, in the final quarter of this financial year.
- DataAuthentication currently has 138 clients compared to 114 in July.
- 4 of the top 5 retail banks now have URU™ either under evaluation or installed in one or more of their divisions. Financial Services sector is now our largest sector.
- GB is leading the market in the delivery of online data capture services to address competition in its traditional business areas.
- Group loss before tax was £637,000 (2005: £183,000), which included £500,000 increased investment to support growth plans for Data Authentication in the UK and overseas.
- Cash balances at 30 September were £6.1 million (2005: £6.4 million).
- Dick Linford has been appointed as a Non-Executive Director.
John Walker-Haworth, Chairman, commented: “The Group’s revenue performance during the final half of the financial year was ahead of our expectations and the Board continues to be excited by the future prospects for the Group.”
For full details of the announcement click here.
Release date: 28 November 2006
November 2006