Update: Accelerating momentum
Revenue growth of 28% and favourable product mix effects offset the impact of additional sales and product investment; as announced in April, operating profits increased 24%. Trading remains strong and we forecast acceleration in organic revenue growth in FY17. We initiate FY19 forecasts, looking for double digit EPS growth to continue. GB Group (GBG) has an excellent track record of creating value through M&A. With net cash and strong cash conversion, this could be added to by probable acquisitions.GB Group is engaged in the provision of identity data intelligence services. Co. has two operating segments: Identity Proofing, which provides electronic ID Verification services for combating ID fraud, money laundering and under-age gambling, ID Employ & Comply services for employee authentication and screening, and ID Fraud & Risk Management services; as well as Identity Solutions, which provides ID Registration, ID Engage and ID Trace & Investigate software and services that provide consumer information and facilitate understanding, targeting and retention of profitable consumers. Between them, the segments have six complementary lines of business including ID Verification and ID Engage.
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