Update: Impressive FY15 trading update, plus acquisition
Driven by strong performance across all business units, GB Group’s (GBG) FY15 year-end trading update indicates that management expects adjusted operating profit of c £10.8m, up 50% on FY14’s reported £7.2m. This is ahead of our estimate by c 13% and leads us to increase estimated normalised diluted EPS by 0.7p to 6.6p for FY15. The group is acquiring for an initial consideration of US$13.4m the remaining 74.5% of Loqate, which is expected to be “earnings-enhancing†in FY16. In March, GBG was chosen as one of the identity assurance providers on the new GOV.UK Verify service. Together with the anticipated strong FY15 result, we also raise normalised diluted EPS for FY16e by 0.2p to 7.3p.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.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.