GB GROUP (GBG) Trading update summary

Trading performance update

• First quarter Americas Identity revenue was slightly below plan, with no improvement in Q2 due to higher than expected volume attrition among key customers.

• Group revenue growth for FY27 is now expected at 1-3%, revised down from mid-single digit guidance.

• Strong sales pipeline exists, but normal sales cycles mean attrition impact will not be offset this year.

Strategic initiatives and cost management

• £6 million investment in GBG Go's innovation roadmap will proceed as planned.

• Focus remains on mitigating attrition headwinds through strong cost control, targeting an adjusted operating profit margin of approximately 21% for FY27.

Leadership changes

• Chief Revenue Officer, Americas, Tom Schutz, has left; COO James Gothard assumes interim responsibility for the Americas business.

• Leadership transition aims to maintain execution and drive momentum in the Americas.