Authentication Business Good For GB Group
Published: Friday, November 30, 2007 Online-Casinos.com
AUTHENTICATION BUSINESS GOOD FOR GB GROUP
6 month interim shows encouraging growth
The widely used UK data authentication company GB Group has produced a 13 percent revenue growth in the six months to end September, according to figures released this week which show revenues at GBP 7.9 million (2006: GBP 7 million), although overall the first half loss was around GBP 1 million.
Management expects to deliver a profit in the second half, and reports a growing number of clients using its popular URU service.
Highlights of the report include:
* DataAuthentication revenues increased to GBP 2.8 million (2006: GBP 2.5 million).
* Number of individual transaction searches in DataAuthentication increased to 2.2 million
during the period(2006: 1.6 million).
* Combined revenue from DataIntegrity and DataSolutions was GBP 5.1 million (2006: GBP 4.6 million).
* Group loss before tax in the six months to 30 September 2007 was significantly less than expected at
GBP 1.0 million (2006: GBP 600 000).
* Cash balances were GBP 3.6 million at 30 October 2007 and the Group expects to generate cash
for the remainder of the year.
* URU currently has 202 clients compared to 174 in May 2007 and transaction searches were
32 percent higher than the monthly average from the previous quarter.
Chairman John Walker-Haworth commented: "GB continues to provide market leading products and services in each area of its business. The Group delivered improved revenue growth during the first half of the year and your Board is very positive about prospects."
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