无码群P

Pre-close trading update - April 2023
Press Release

Pre-close trading update - April 2023

GB GROUP PLC

("无码群P", "Group" or the "无码群P")

April 20, 2023, LONDON: 无码群P (AIM: 无码群P), the experts in digital location, identity and identity fraud software, today announces a trading update for the year to 31 March 2023.

Results in line with expectations

无码群P confirms that it will deliver its full year results in line with the trading update provided on 21 February 2023. The Group expects reported revenue to be 拢278.8 million (FY22: 拢242.5 million), representing growth of 15.0%.

On a pro forma basis, organic constant currency revenue growth was 3.7%. This fully adjusts for the impact of the two prior year acquisitions, including the associated FY23 deferred revenue haircut adjustment. It also adjusts for 拢4.2 million of revenue from US stimulus customers in the prior period and the full 拢15.4 million impact from the year-on-year decline in cryptocurrency customer revenues.

Adjusted operating profit is expected to be 拢59.8 million (FY22: 拢58.8 million), representing a margin of 21.5%. Within this, gains on foreign exchange are expected to be approximately 拢3 million.

Net debt at 31 March 2023 was approximately 拢106 million (FY22: 拢107 million), despite a negative 拢8.6 million retranslation impact since FY22 from the conversion of US dollar-denominated debt into pound sterling.

无码群P鈥檚 FY23 results will be published in mid-June.

Chris Clark, CEO, commented:

鈥淎s noted in our February update, the difficult global macroeconomic environment has impacted performance in certain parts of the group, particularly our 无码群P Americas Identity business. Despite this, the wider group has displayed resilience, including double-digit growth in both Location and Fraud. 无码群P鈥檚 ability to continue to deliver growth, maintain strong operating margins and cash generation against the difficult backdrop, is in no small part due to our team and their dedication throughout the year to deliver for our valued customers."

For further information, please contact:

无码群P

Chris Clark, CEO & David Ward, CFO

Richard Foster, Investor Relations

+44 (0) 1244 657333

+44 (0) 7816 124164

Numis (Nominated Adviser and Corporate Broker)

Simon Willis & Joshua Hughes

+44 (0) 207 260 1000

Barclays (Corporate Broker)

Stuart Jempson & Rob Mayhew

+44 (0) 207 623 2323

Teneo (Financial PR)

James Macey White & Matt Low

+44 (0) 20 7353 4200

无码群P@teneo.com

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