GB GROUP (GBG) Trading Update summary

Financial performance and outlook

• First half revenue reached approximately £137 million, up 4.5% on a constant currency basis compared to 1H24.

• Identity and Location segments grew 6.8% on a constant currency basis, offsetting a high single-digit decline in Fraud.

• Adjusted operating profit rose by about 21% to £29 million, with a margin of 21.2%.

• Net debt reduced to around £72 million as of 30 September 2024, down from £80.9 million at 31 March 2024.

• FY25 outlook reiterated: mid-single-digit revenue growth and high single-digit adjusted operating profit growth expected.

Strategic and operational highlights

• Progress made in removing complexity, global alignment, performance culture, and innovation acceleration.

• Strong pipeline execution and ramp-up with key customers contributed to performance.

• Significant customer win-backs reinforced market leadership in identity fraud and location software.

• Positive operating momentum supports confidence in meeting FY25 and longer-term goals.

Additional information

• Half-year results will be released on 19 November 2024, with a virtual management presentation for investors and analysts.

• Adjusted operating profit excludes amortisation, impairment of intangibles, share-based payments, and exceptional items.

• GBG powers over 20,000 organisations globally with identity and location solutions.