Trading Statement
GB Group PLC reported a pre-close trading update for the first half of FY27, expecting revenue of £139.5 million, a 1.4% increase on a constant currency basis, with core segments Location and Identity growing 4.5% driven by strong performance in Location (8.9%) and EMEA Identity (double-digit growth outside the Americas). However, the non-core Global Fraud Solutions business declined more than anticipated. Adjusted operating profit is projected at £27.0 million, down from £29.5 million in the prior year due to investment in GBG Go and approximately £4.5 million in exceptional costs for business transformation and cost efficiencies, alongside a non-cash goodwill impairment charge related to Americas Identity. The FY27 outlook remains in line with market expectations, with revenue growth anticipated at 1-3% and adjusted operating profit expected to meet current market consensus.
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FY27 outlook in line with market expectations2
GBG, the global identity and location technology business, today provides an update on its trading performance for the six-month period to 30 September 2026. Encouragingly, the majority of the Group has performed well.
Revenue
The Group expects to report first half revenue of £139.5m, representing growth of 1.4%1 on a constant currency basis. Location and Identity - which together represent the core segments of our business and c.95% of total Group revenue - delivered constant currency revenue growth of 4.5%1.
Revenue growth in Location was 8.9%1, driven by a strong performance in enterprise channel partnerships and the APAC region.
Identity revenue growth of 2.4% was driven by double-digit growth outside Americas; primarily driven by a strong EMEA performance through continued gaming and financial services sector expansion, and volume ramp up of new GBG Go customers. As previously announced, performance in Americas Identity was impacted by attrition in a small number of material direct customers. Further detail on actions the Group is taking to recover its momentum in Americas will be provided at the Interim results.
The non-core Global Fraud Solutions business (c.5% of total revenue) declined more significantly than expected, reflecting timing of license renewals, increased customer churn and fewer new wins. We continue to assess the strategic options for this business which remains profitable and cash generative.
Profitability
First half adjusted operating profit is expected to be £27.0m (1H26: £29.5 million) reflecting the previously announced additional investment into accelerating GBG Go. This work is on track, and the incremental spend is still expected to conclude by the end of FY27.
The Group has continued to progress business transformation and simplification initiatives and has accelerated cost efficiency actions to mitigate the impact of the Americas Identity revenue attrition headwind, with approximately £4.5m of exceptional cost incurred during the first half.
As a consequence of the customer attrition referenced above, the Group also expects to report a non-cash goodwill impairment charge related to our Americas Identity business. Any impairment charge will be treated as exceptional with no impact on the Group's adjusted operating profit or cash.
Outlook
The Group's FY27 outlook is in line with recently revised market expectations, with FY27 revenue growth expected to be 1-3%. Continued progress on accelerated cost efficiency actions this year underpins the Board's confidence in delivering adjusted operating profit in line with current market expectations2.
Dev Dhiman, Chief Executive Officer, said: "Our resilient performance, led by strong growth in Location, EMEA Identity and the momentum behind GBG Go, demonstrates that the business fundamentals are strong and that our capabilities are highly trusted by customers across attractive, structurally growing markets. The continued resilience of the Group, together with an increased pace of change to simplify and sharpen its focus, are the foundations for our full year and medium-term outlook. This reinforces my confidence that GBG will leverage the growth opportunity ahead."
Notice of results
GBG will announce its Interim results on Tuesday, 24 November 2026.
Notes
1Excluding the revenue contribution from the DataTools acquisition completed in October 2025, organic constant currency growth was: 0.4% for the group, 3.4% for the core segments of Location and Identity combined, and 5.5% for Location.
2GBG's current company-compiled consensus estimates from nine sell-side analyst updates published since the trading update on 14 August 2026 indicate a range for FY27 revenue of £288m - £292m with a median adjusted operating profit of £61m.
For further information, please contact: GBG Richard Foster, Investor Relations +44 (0) 7816 124164 FTI Consulting (Financial PR) Dwight Burden, Emma Hall & Ed Bridges +44 (0) 203 727 1779 GBG@fticonsulting.com Investor relations website www.gbgplc.com/investors
About GB Group plc ("GBG")
GBG exists to enable safe and rewarding digital lives for genuine people, everywhere. As the AI trust intelligence platform, we turn billions of interactions across people, places and businesses into the signals that help businesses drive and protect growth.
For over 30 years, we have combined global data with innovative technology to help more than 20,000 customers globally verify identity and location, protecting against digital crime, strengthening business resilience and driving responsible growth at scale.
GBG is a publicly traded company on the London Stock Exchange Main Market (LSE: GBG). Further information on our business can be found on our corporate website: www.gbgplc.com
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