By Anthony O. Goriainoff
GB Group said revenue is expected to fall for the first half of fiscal 2024, but that it was confident of meeting its profit expectations for the full year.
The London-listed identity-data-intelligence specialist said Thursday that revenue is seen at around 132.4 million pounds ($160.7 million) compared with GBP133.8 million the year before. On a constant-currency basis, revenue is estimated to grow 1.8%.
The company said identity verification revenue is anticipated to decline around 3% for the first half as expected, but that monthly transaction volumes in identity have stabilized and that it still expects some year-on-year revenue growth in the latter part of the year.
Adjusted operating profit for the first half is expected at around GBP23.7 million.
The company said its gross margin is seen at around 69.2% compared with 71.1% the year prior, reflecting the revenue mix in the period.
“The ongoing focus on simplicity and efficiency underpins the board’s confidence that GBG will deliver its fiscal 2024 profit expectations,” it said.
Write to Anthony O. Goriainoff at [email protected]
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