Profit before tax at identity specialist GBG have dropped to zero.
The London-listed company, which is headquartered in Chester, reported revenue growth of 22.6% to £133.8 million in the six months ended 30th September 2022.
However profit before tax fell to 0.0% compared with £14.4m in the year prior. Operating profit was also down 83% to £2.5m.
CEO Chris Clark was upbeat about the results at the firm, which welcomed Richard Longdon as non‐executive chair in September.
“Excellent strategic progress has been made across the group over the past six months as we maintain our relentless focus to deliver against our long-term growth strategy, bringing our market leading Location, Identity and Fraud solutions together to address the ever-growing needs of customers in the digital world,” he said.
“The macro uncertainties have been well publicised, but with world class technology, a diversified blue chip customer base and our strong cash generative business model, the board remains confident in the long-term prospects of the business.”