Growth and profits on track GB Group GB Group (GBG) reported FY19 results in line with recently upgraded estimates. It continues to deliver on its strategy to grow organic revenues at double-digit rates while delivering operating margins in excess of 20%. Recent acquisitions are performing well and helped drive the 56% growth in international revenues over the year. We make minor changes to our forecasts, resulting in small upgrades to normalised EPS estimates. Analyst Katherine Thompson
GB Group’s (GBG) revenues rose by a fifth to £144m for the year to March, with underlying constant-currency organic growth of 11.5 per cent. Pre-tax profits climbed by a tenth to £14.7m. The group expanded its presence in North America and the Asia-Pacific region, with international sales constituting 45 per cent of the top line – up from 34 per cent. This was helped by two acquisitions: VIX Verify in Australia, and US-based IDology – its largest transaction to date, at $300m. These deals led GBG to swing to a net debt position of £66.3m, from net cash of £13.5m. Management said it remains confident about continuing to deliver double-digit organic growth. Recommendation under review.
RNS Number: 6625 A GB Group PLC 31 May 2019 31 May 2019. Total Voting Rights and Share Capital. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
A presentation will be held for analysts at 09.00 am hosted by Chris Clark, Chief Executive, and David Wilson, Chief Financial Officer& Chief Operating Officer, at UBS, 5 Broadgate, London, EC2M 2 QS. Analysts who wish to attend the presentation should register their interest with Tulchan Communications at GBG@tulchangroup.com or on 020 7353 4200..
RNS Number: 4372 X GB Group PLC 30 April 2019 30 April 2019. Total Voting Rights and Share Capital. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Shares in GB Group (GBG) were up by around a tenth this morning after the identity data intelligence group released a positive trading update for the year to March 2019. It expects to report total revenues of £143m – up by 19.7 per cent and ahead of market consensus. On an underlying constant-currency basis, organic revenues were up by 11.3 per cent. It expects to report adjusted operating profits of around £31.7m, a 20.6 per cent rise year-on-year and also ahead of market consensus. Net debt was £66.3m, against £13.5m net cash, after GB used cash and debt to buy Vix Verify global and a further £86m of debt to help finance its purchase of IDology. Buy.
International expansion drives strong H2 GB Group GB Group expects to report FY19 revenues, adjusted operating profit and net debt ahead of consensus expectations. The recent acquisitions have integrated and performed well, providing much of the upside to forecasts. We have upgraded our FY19 earnings forecasts to reflect the better trading performance in H2 and lower net debt in FY20 and FY21. Analysts Katherine Thompson
·Total revenue for the year is expected to be up 19.7% at £143.3 million, ahead of market consensus. ·GBG expects to report adjusted operating profit† of approximately £31.7 million, a 20.6% increase on last year and also ahead of market consensus.. ·Net debt balance at 31 March 2019 was £66.3 million following the use of cash and debt to acquire Vix Verify Global...
RNS Number: 5131 U GB Group PLC 29 March 2019 29 March 2019. Total Voting Rights and Share Capital. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
The Company announces that, on 27 March 2019, executive directors Chris Clark, Dave Wilson and Nick Brown, exercised options over ordinary shares of 2.5 pence each in the Company at an exercise price of 2.5 pence per Ordinary Share. The same executive directors subsequently sold a proportion of the resulting Ordinary Shares at a price of 483 pence per share on...
RNS Number: 4090 R GB Group PLC 28 February 2019 28 February 2019. Total Voting Rights and Share Capital. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3149 R GB Group PLC 27 February 2019. The Board of GBG announces that the investment made by the executive directors in acquiring ordinary shares of 2.5 p each in the Company in February 2019 as part of the share placing for the acquisition of IDology Inc. was carried out under the Bonus Deferral and Share Matching Plan of the Company..
RNS Number: 4768 Q GB Group PLC 19 February 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9301 P GB Group PLC 13 February 2019. The Company announces that Nick Brown, Group Managing Director, yesterday notified the Company that he exercised options over 6,640 ordinary shares of 2.5 pence each in the Company awarded in 2013 under GBG's Save As You Earn Share option scheme.. RNS is approved by the Financial Conduct Authority to act as a Primary...
GB Group Expanding eIDV in the US GB Group (GBG) has acquired IDology, a US identity verification business, for an enterprise value of $300m/�231m. It has placed 39m shares at 410p per share to fund �160m of the purchase price, with the remainder coming from a new credit facility. We estimate that the deal offers significant cross-selling potential and will boost GBG’s international revenues to close to 50%. Analysts Katherine Thompson Dan Ridsdale
GB Group (GBG) announced after market-close yesterday that it has agreed to acquire US-based IDology, a provider of identity verification and fraud detection services, for an enterprise value of $300m. For the year to December 2018, IDology saw revenues of $38.2m and cash profits of $16.3m. GB said it planned to finance the $301m (�233m) acquisition and associated costs via a vendor share placing to raise �160m, with GB’s directors and senior management intending to subscribe for placing shares worth �0.8m in total. It said it would also use around �84m in new bank facilities. This morning, we learnt that 39m shares had been placed at a price of 410p – a 3.1 per cent discount to yesterday’s closing price. The placing shares will represent around 25.5 per cent of GB’s existing issued share capital. We remain buyers.
RNS Number: 7968 P GB Group PLC 12 February 2019. The Company announces that on 12 February 2019 certain members of the board of directors acquired in aggregate 185,698 ordinary shares of 2.5 p each in the Company in the vendor placing announced yesterday, as follows:. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in...
RNS Number: 6978 P GB Group PLC 12 February 2019 THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SINGAPORE, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,...