Annual results for year ended 31 March 2021

GB Group plc (AIM: GBG), the global identity data intelligence specialist, announces its annual results for the year ended 31 March 2021.

Financial highlights

Strategic and operational highlights

Strong revenue, profit and cash performance:

• Record financial performance ahead of updated market expectations⁴
• Revenue growth of 12.1% in organic constant currency terms
• Adjusted operating profit increased by 20.8% from £47.9m to £57.9m
• Continued strong cash generation resulted in a net cash position of £21.1m (£35.0m net debt at the start of the year)
• Final dividend in respect of FY21 declared of 3.4p per share

People:

• Achieved our highest team engagement scores to date
• Continued to strengthen our team across the business and also added new talent to our Executive and senior management, delivered via internal promotions as well as external appointments

Customers and growth:

• Achieved our best ever customer engagement scores
• All channels to market (direct, self-serve and partnership) performed well
• Revenue growth driven by significant demand from existing customers who experienced increased usage in their digital channels, as well as  adding new clients in all lines of business

Continued enhancements in strategy and products:

• Launched significant new product features and opened an AI-focused centre of excellence, while strengthening security and adding breadth to data products
• Acquired HooYu Investigate and invested in Singapore based fraud detection business Credolab
• Completed the disposals of two non-core businesses, Marketing Services and Employ & Comply, both to high-quality acquirers

Current trading & outlook:

• Good start to the year with current trading in line with the Board's expectations
• Continue our strategy of organic and inorganic investment to drive product and market expansion

Chris Clark, CEO, commented:

"Today we report a record financial performance together with our best ever customer and team member engagement scores. In the fast changing global economic environment this is an excellent outcome and I sincerely thank each and every one of our team in all territories who all played a part in this success.

The pandemic has accelerated customer digitalisation initiatives and permanently shifted more consumer activity online. Satisfying consumer expectations for simple online journeys, while meeting the needs of businesses to reduce fraud and trade in compliant ways, creates significant long-term opportunities for GBG.

In the year ahead we will continue to invest in our people, technology and channel to market capabilities in order to further converge our Location, Identity and Fraud solutions, create new propositions and capitalise on the growth opportunities our strategy identifies." 

Notes:

¹ "CCY" indicates figure reported on a constant currency basis. Constant currency means that non-Sterling revenue in the comparative period is translated at the same exchange rate applied to the current year non-Sterling revenue.

² These measures are defined within note 37 to the Annual Report.

³ This comprises 3.00p as an interim dividend paid posthumously in January 2021 in lieu of no FY20 dividend, in addition to 3.40p declared for FY21.

⁴ Company compiled consensus of analysts' estimates for year ending 31 March 2021, as detailed in our trading update on 22 April 2021: Revenue of £213.2 million and adjusted operating profit of £53.5 million.

Ends 

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Presentation and webcast

Chris Clark, Chief Executive, Dave Wilson, Chief Financial Officer & Chief Operating Officer and David Ward, new Chief Financial Officer will be hosting an analyst webcast presentation on 15 June 2021 at 9am.

Shortly following the presentation, an archived webcast will be available on the Investors page of the Company's website.

About GBG

GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers.

Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience and establish trust, so that they can transact quickly, safely and securely with their customers online.

Headquartered in the UK and with over 1,000 team members across 15 countries, we work with over 19,000 customers in over 70 countries. Some of the world's best-known businesses rely on GBG to provide digital services and keep the economy moving, from US e-commerce giants to Asia's biggest banks and European household brands.

To find out more about how we help our customers establish trust with their customers, visit www.gbgplc.com and follow us on LinkedIn and Twitter@gbgplc.