GB Group Reports 1Q Revenue of GBP5.6M, Dividend Up

21st Jul 2010 07:28

LONDON (Dow Jones)-- GB Group PLC (GBG.LN) said Wednesday group revenue for the first quarter ended June 30 increased to GBP5.6 million compared with GBP5.0 million in the year ago period and added that it will propose final dividend of 1.20 pence per share, an increase of 4.3% on last year's payment of 1.15 pence per share. MAIN FACTS: -Operating profit before exceptional costs and taxation improved to GBP259,000 (2009: GBP135,000). -Operating profits after the exceptional costs of the proposed move to AIM were GBP109,000 (2009: GBP135,000) -Cash balances remained strong at GBP5.2 million (2009: GBP5.3 million) -Market for Identity Management has continued to show signs of improvement; DataSolutions continued to show particularly good progress whilst DataAuthentication showed underlying recovery compared to the previous quarter. -Pleased with performance in the early months of the year but remain cautious principally because of the uncertainties surrounding consumer activity and cuts to public sector spending. -Shares on Tuesday closed at 25.8 pence, valuing the company at GBP22 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 21, 2010 02:28 ET (06:28 GMT)