Chester-based GB Group (GBG), the global identity verification, location intelligence and fraud prevention company, said on Thursday its revenue rose 3% on a constant currency basis to £283 million in the year to March 31, 2025.
In a trading statement, GBG said adjusted operating profit is expected to rise 10% to £67 million “supported by continued cost control, simplification and efficiency improvements.”
GBG shares fell about 13%.
The firm said: “Exceptional costs of around £4.5 million were incurred in the second half of the year arising from initiatives to simplify the business and increase global alignment to drive sustainable, profitable growth.
“GBG is a highly cash generative business and our balance sheet continues to strengthen. In FY25, our cash conversion was over 90%, which enabled net debt as at 31 March to reduce to £48.5 million (31 March 2024: £80.9 million). GBG has undrawn facilities of around £100 million.
“Looking forward, GBG is well-diversified by region and end market, underpinned by recurring subscription revenues and strong NRR with a more focused and sustainable approach to achieving profitable growth.
“The group’s strategic progress, including recent innovations such as our new identity platform, GBG Go, means we are well-positioned to capitalise on the attractive long-term structural growth opportunity in our key markets.
“In the near-term, we expect to gradually accelerate growth, but recognise this may be moderated by the impact of increasing tariff-related macroeconomic uncertainty.”
GBG CEO Dev Dhiman said: “The digital economy has evolved at speed over the past 30 years – and GBG has evolved with it. Through relentless innovation, we’ve helped businesses connect with and trust their customers using our powerful identity and location intelligence.
“This year, I am proud of the major leap forward that the business has achieved. As of 1 April, we are going to market as one global brand, one global team with a unified identity platform, GBG Go, built for a connected world. It’s a step change, and only possible thanks to the dedication and focus of our team.
“We’re now entering an exciting new chapter – driven by a refreshed purpose: enabling safe, rewarding digital lives for genuine people, everywhere. In June, I’ll outline the strategic initiatives that will strengthen our market leadership and deliver the impact to accelerate our growth.”