GB Group beats expectations

Customer identity specialist GB Group has boosted its dividend after profits came in ahead of market expectations.

Pre-tax profits grew by 62% to £2.5m reflecting greater revenues and profit margins.

The firm posted a 31% increase in revenues to £31.8m in the year to the end of March.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Earnings per share doubled to 5p and the company pushed its dividend up 7.8% to 1.375p.

"GB Group has again started the new financial year in good shape and is well positioned to capitalise on our quickly developing markets," said Chairman David Rasche

"Although the trading environment and economy remain challenging, we faced similar challenges last year and have prospered."

The numbers were boosted by three successful acquisitions during the year - Data Discoveries, Advanced Checking Services and Capscan - which the company said had added capabilities and customers.