Tuesday 15 June 2021 9:27 am

Data intelligence firm GBG wires £217m in revenue after pandemic tech boom

Data intelligence and identity validation specialist GBG has reinstated its dividend this year, as it wired in £217.7m in revenue during the pandemic-induced tech boom.

With its revenue climbing 9.3 per cent in the year to 31 March, the group reaped the rewards of a pandemic that pushed its customers to use their digital channels even more.

Tech-based firms have enjoyed a turbulent but effective boom over the pandemic, which helped identity validation specialist GBG add more new clients to its books.

“The pandemic has accelerated customer digitalisation initiatives and permanently shifted more consumer activity online,” CEO Chris Clark said.

“In the fast-changing global economic environment this is an excellent outcome and I sincerely thank each and every one of our team in all territories who all played a part in this success.”

The group also reinstated its dividend at 6.4p per share, with 2021’s outlook looking slightly brighter than the year before.

GBG’s adjusted operating profits rose 20.8 per cent, by exactly £10m, taking the year’s final figure to £57.9m.

Adjusted earnings per share were lifted 15.6 per cent, up from 21.8p in 2020 to 25.2p today.

The CEO added that the group will be eyeing investments in its workforce, technology and channel to market capabilities in the year ahead.