CHESTER identity management specialist GB Group posted an improvement in its third quarter results today.

The company said the positive momentum for the first half has continued into the third quarter, ended December 31.

Highlights for the nine months so far include a 20% increase in group revenues to £21.2m.

Calculated on an organic basis and excluding revenue from acquisitions, turnover rose 7% to £19m.

Operating profits doubled to £2.4m against last year, or by 84% to £2.2m on an organic basis.

Cash held by the group by the end of the year stood at £2.5m, compared with £5m, after payments of £1.1m in final dividends and £4.2m related to acquisitions.

The three additions to the group, made between June and November last year, are integrating well, it said.

Revenues in the DataSolutions arm during the nine months rose by 21% to £12.2m.

The DataAuthentication business showed an 18% increase in turnover in the same nine month period to £9m.

Based on the latest quarterly update the company says it expects to at least match current market expectations for its full year results.

Chief executive Richard Law said today: “The year to date has been one of significant progress for the group, advancing our strategic objectives and focusing on delivering on our targets and commitments.

“The strong operational performance reported in the first half has continued and the acquisitions have all integrated well.”

He added: “I am excited about the future prospects for GB Group and the board remains very confident for the outcome for the year.”