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Robust Trading at GBG

Chester-headquartered identity intelligence specialist GBG has said trading has remained "robust" over the past six months and the acquisition of IDscan Biometrics has "settled in well".

The business expects revenue of £37.5m in the six months to 30 September 2016, representing a year-on-year growth of approximately 16 per cent.

Richard Law, the outgoing chief executive of GBG, said: "I am pleased with the performance of GBG in the year to date. IDscan Biometrics, acquired in June of this year, has settled in well; we continue to expand our business internationally; and we remain very positive about the future prospects for the group."

The group said it expects to report profits for the six months to 30 September 2016 in line with expectations, with an adjusted operating profit of at least £5m up from its figure of £4.5m in 2015.

Earlier this month, it also revealed the appointment of Chris Clark as chief executive who will join the company in April 2017.

Law said: "I'm very proud of the substantial international business that the GBG Team has built during my time as chief executive and I'm confident that Chris will continue the strong progress made to date and lead the group to its next stage of growth and advancement. I will continue as chief executive until Chris's arrival."

The group's half year results are expected to be announced on the week commencing 28 November 2016.


Source: Insider Media Limited