Annual profits and revenues have risen sharply at identity data intelligence specialist GBG.
The London-listed company, which is headquartered in Chester, reported revenue for the year ended March 2022 of £242 million, including approximately £13m of initial revenue from the recent acquisitions of Acuant and Cloudcheck.
As a result of this strong revenue performance, GBG expects to deliver an adjusted operating profit margin at the upper end of expectations, around 24%, resulting in adjusted operating profits of not less than £58m.
It said group revenue and adjusted operating profit was ahead of market expectations.
Taking into account the Acuant and Cloudcheck acquisitions, completed at the end of November 2021 and January 2022 respectively, proforma enlarged group revenue was approximately £275m.
The group repaid $40m of the $210m debt financing drawn in November 2021 to finance the acquisition of Acuant. GBG’s net debt at 31st March 2022 was £107m.
The firm also said it has no operations or active suppliers in Russia, Belarus or Ukraine after it suspended business with a “small number” of customers incorporated in Russia.
It said exposure to Russian customers is limited with combined revenue in FY22 of less than 0.5% of group revenue.
“I am very proud of the growth we have delivered in FY22… we carry momentum into our new financial year with real enthusiasm for what we can achieve despite some significant macro uncertainties, including ongoing pandemic restrictions, geopolitical uncertainties and the backdrop of rising inflation,” said Chris Clark, CEO.
“The acquisition of Acuant accelerates our product and market strategies [in the United States] and we are confident that, together, we have more resources and opportunities than ever before to achieve our significant potential.”