GB Group, the Chester-based identity management specialist, saw turnover rise by 44% to £17.7m in the six months to September 30, aided by input from three acquisitions.
Adjusted operating profits were 58% better at £1.5m, although pre-tax profits of £501,000 compared with £736,000 last year.
The group said it remains highly cash generative with a cash balance of £5.8m, up from £4.2m, after £1.5m of dividend payments.
Chief executive Richard Law said today: “As online and cross-border trading continues to increase, we remain confident that there is a corresponding demand for our identity management services which are designed to ‘enable’ online business and make it safe and easy for consumers and businesses.
“GB Group is meeting this demand through its existing range of excellent services and through the additional capability we have acquired as a result of four acquisitions successfully completed over the last 18 months.
“These are exciting times for GB Group and I believe that our prospects are positive.”
Looking forward, he said GB’s products and services are successfully meeting the needs of its clients, “helping them to develop profitable and robust relationships with their customers”.
He said the further development of its portfolio, aided by acquisitions, will provide the opportunity to address new markets, including Argentina and China.
“We expect the strong performance to continue for the remainder of the year.
“Looking further ahead, we are encouraged by the growth expected in our markets and believe we are well positioned to exploit this market expansion over the coming years.”
