Shares in GB Group plc have dropped 11% in trading today after it wrote down the value of its US business segment by around £90 million in its latest annual results.

The Cheshire-based identity solutions business recorded a small increase in revenue for the year ended 31st March 2026 but the writedown saw it swing to a huge loss on a statutory basis.

Revenue was £285m, up from £282.7m; but losses before tax were £74.5m, compared with a £15.7m profit in the previous year.