Thu, 10 Feb 2011 | BUSINESS NEWS
An identity management company based in Chester has said that it plans to base its growth strategy around acquisitions, after its listing on the alternative investment market (AIM).
GB Group confirmed in a trading update that its full year results would match their previous, very healthy forecasts and that management was "investigating selective earnings enhancing acquisitions" as a means of growing the business.
The company's revenues for the nine months to December 31 showed an increase of 13 per cent to £17.7 million. Its operating profits for the same period showed a staggering rise of 120 per cent to £1.21 million.
The company's operations are split between two distinct elements: DataSolutions, which provides identity-based marketing services, and DataAuthentication, which specialises in identity verification systems.
In a statement released with the update, a company spokesman said, "We are pleased to note that growth has been seen across all of these areas of DataSolutions operations."
The company offers a range of identification services including an ID customer registration product, ID marketing services that allow people to examine the identifications of their customers with a view to enhancing their services, and an ID tracing service that works on UK population and property data.
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