IDENTITY management provider GB Group enjoyed a year of solid growth as it continues to build on its growing global presence.

The Chester-based firm yesterday announced a deal that will see it push into the Canadian market through a strategic relationship with TransUnion. It will offer instant ID verification for UK businesses wanted to expand their customer base with Canadian citizens.

A key part of GB Group’s future growth is expected to come from cross-border verification and it already operates services in the USA, Australia, Norway, Sweden and Germany. It plans to add more countries this year.

Richard Law, GB Group’s chief executive, said: “As cross border trade grows, the ability to authenticate global customers is essential in enabling online business to take place and give consumers access to the full diversity of goods and services available on the web.

“In many cases without proof of ID businesses can’t trade with overseas customers for reasons of fraud, security and legislation.”

Its annual results published yesterday, for the year to March, showed revenues increased 10% to £24.4m while pre-tax profits increased 37% to £1.7m. Income tax credits pushed its profits to £2.1m.

It has proposed a £1.1m dividend, of 1.275p per share, which it said reflected “the strong results and the board’s confidence in future prospects”.

Mr Law added: “GB has continued to benefit from the strength of its software and services.

“Creating differentiation is something that we do well and we will continue to invest to keep our software and services at the forefront of their markets.

“These are exciting times for GB and accelerating our growth through earnings enhancing acquisitions, as well as through organic growth, continues to be an objective.

“With a recovering economy and a clear strategy that is delivering results we remain optimistic for the future.”

The group incurred exceptional costs of £206,000 in moving from the London Stock Exchange’s full list to the Alternative Investment Market (AIM) last August.

The group believed that AIM’s lighter administrative and regulatory touch and lower operating costs will better suit a company of its size.

Since the switch to AIM, GB Group climbed nearly 40% to 35.4p at the financial year end and has continued to rise. It closed last night at 41.5p.