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GB Group - Hopes to win retail bank contract

January 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Lack of space meant we didn’t comment on GB’s interims last month. These were slightly better than expected with a loss before tax of £183,000, despite the increased investment in the electronic age and ID verification service URU, a joint venture with BT. From 18 months earlier, when it was a fledgling market, URU now has 82 customers. Most of the new customer wins are yet to show through in revenues but nevertheless, URU was entirely responsible for the 14% lift in the top line to £5.9m. Revenue from URU was £0.86m, five times higher than H1 last year and double that of the preceding six months. GB's traditional operations (data capture, cleansing and storage) accounted for the remaining r ...

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