AIM Listed Tech Stock GB Group PLC (LSE: GBG) reaffirms guidance for H1 FY24

2 min read | October 24, 2023 04:41 AM AEDT | By Team Kalkine

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AIM Listed Tech Stock GB Group PLC (LSE: GBG) reaffirms guidance for H1 FY24 — Image source: © Amaviael | Megapixl.com

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Highlights

GB Group PLC (LSE:GBG) provides assistance to its clients in customer verification, like checking the identity as well as location of their customers against any kind of fraud.

The company registered a statutory revenue of £278.8 million in FY23, marking 15.0% YoY growth as compared to £242.5 million in FY22.

GB Group’s final dividend per share saw an increase of about 5% in FY23.

FTSE AIM UK 50 index listed b provides assistance to its clients in customer verification. This includes checking the identity as well as location of their customers to safeguard the company against any kind of fraud. For the fiscal year 2024 year-to-date (as of 19 October 2023), the company’s cash conversion rose from 57.5% to 100%.

The company registered a statutory revenue of £278.8 million in FY23, marking 15.0% year-on-year (YoY) growth as compared to £242.5 million in FY22. This was mainly due to the increased cryptocurrency volumes as well as the US Stimulus Project. GBG has lowered its net debt to £105.90 million, as recorded on 31 March 2023, from £107 million in FY22.

GB Group’s final dividend per share saw an increase of about 5% in FY23. It paid a final dividend of 4 pence per share in August this year with an ex dividend date of 22 June 2023.

The company has reiterated its profitability guidance for fiscal year 2024 to deliver on its FY24 profit expectations, based on ongoing focus on simplicity and efficiency.

Top 10 Shareholders

Approximately 39.56% of the total shares of the company are held by its top ten shareholders. While AXA Investment Managers UK Ltd. holds the maximum number of shares with 6.23% shareholding, Octopus Investments Limited is the second biggest shareholder of the company with around 6.19% shareholding.

Stock Price Performance

GBG’s share price has gained approximately 2.73% in the last one month and has declined by nearly 26.47% over the past six months. The stock’s 52-week low and high price stand at GBX 202.80 and GBX 436.36, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 19 October 2023. The reference data in this report has been partly sourced from EODHD/Others.

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