Profit before tax at identity specialist GBG have dropped to zero.
The London-listed company, which is headquartered in Chester, reported revenue growth of 22.6% to £133.8 million in the six months ended 30th September 2022.
However profit before tax fell to 0.0% compared with £14.4m in the year prior. Operating profit was also down 83% to £2.5m.
CEO Chris Clark was upbeat about the results at the firm, which welcomed Richard Longdon as non‐executive chair in September.
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“Excellent strategic progress has been made across the group over the past six months as we maintain our relentless focus to deliver against our long-term growth strategy, bringing our market leading Location, Identity and Fraud solutions together to address the ever-growing needs of customers in the digital world,” he said.
“The macro uncertainties have been well publicised, but with world class technology, a diversified blue chip customer base and our strong cash generative business model, the board remains confident in the long-term prospects of the business.”
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