Identity specialist GB Group is targeting continued international expansion after announcing strong financial results.
The Chester-headquartered firm saw revenues climb 16 per cent to 拢37.5million, compared with 拢32.4m in the same period in 2015.
After-tax profit was down at 拢1.2m, compared with 拢2.3m in 2015, as a result of what the company termed 鈥渋ncreased exceptional costs鈥� relating to reorganisation costs and fees for the acquisition of IDscan鈥�.
David Wilson, GBG finance and operations director, told 老九品茶Cloud: 鈥淚nternationalisation is key to growth. We have customers in 70 countries and we are winning more international clients.
鈥淥ur verification technology covers more than half the global population for the monitoring of potential money laundering activities.
鈥淲e brought in IDscan Biometrics this year to give us scanning capability and we have address intelligence in 190 countries鈥� and fraud management software installed in 46 countries.鈥�
International revenues represented 31 per cent of group turnover compared to 26 per cent for the same period last year.
That was thanks to the signing of a number of global deals, including Barclays, Bank of Beijing and Rizal Commercial Banking Corporation, one of the Philippines鈥� largest banks.
Chief executive Richard Law said: 鈥淭he group has continued to perform well and we have increased our identity data intelligence capabilities considerably through the acquisition of IDscan as well as with ongoing product development.
鈥淥ur expanded product range now incorporates elements of artificial intelligence and machine learning technology, enhancing our position at the forefront of technology innovation in our rapidly growing markets.鈥�
GBG bought IDscan in July 2016 having acquired Loqate in April last year. It said both are performing well.
Wilson added: 鈥淗alf of the world鈥檚 population is in Asia and the Pacific region, and we deal in information about people 鈥� so it鈥檚 very important to build our presence there.
鈥淲e are a product innovator and we also have an active pipeline of 40 [potential acquisitions] which we are monitoring which could bring innovation in from outside.鈥�
Law will step down from the board in April 2017 after 14 years, with Chris Clark set to replace him. Clark is leaving his role as聽managing director for Experian UK and Ireland,聽Europe, Middle East and Africa.
鈥淐hris was top of our list of candidates to replace Richard,鈥� added Wilson. 鈥淗e鈥檚 got a background in business development and sales and has run very large organisations.鈥�