British age and identity verification firm GB Group has announced its interim financial results for the previous quarter showing revenues for the period up by ten percent year-on-year to £5.27 million.
The Chester-based firm revealed that revenues from its DataAuthentication identity verification business increased by nearly one-third to £2.61 million compared to the same period last year.
The company’s DataIntegrity and DataSolutions identity-based marketing and tracing services generated revenues of £2.66 million, which was down slightly from last year’s £2.83 million, while group profits before taxation amounted to £131,000, which was up from 2007’s £74,000.
For the nine months to December, GB reported that revenues improved by 33 percent to £16.94 million, which included a one-off settlement for licence arrears of £350,000. Profits before taxation and share-based payments for this period improved to £440,000 from a loss last year of £860,000.
Including the value of the settlement, GB stated that its profits before tax and share-based payments increased to £780,000 while its cash balance grew by one million Pounds to £4.3 million.
GB revealed that revenues in January were approximately ten percent ahead of the same period in 2008 and that it is continuing to trade profitably.