Update: Impressive growth again - FY15 EPS up 39.6%
GB Group’s (GBG) FY15 results are in line with management’s April trading update and show an accelerating trend, with organic revenue growth of 15% (H115: 13%, FY14: 10.3%). Revenue rose 37% to £57.3m including contributions from the May 2014 DecTech and November 2014 Transactis acquisitions, both of which have integrated well. The group’s focus on gaining international capability is gaining traction with revenue from international clients services now accounting for 19% of revenue (FY14: 9%). Normalised group pre-tax profit rose by 49% to £10.5m and diluted normalised EPS after our notional 21% tax charge rose 39.6% to 6.7p.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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