GB Group plc (GBG.L), an identity data intelligence products and service provider, on Thursday said it projects lower revenues for the first half on a reported basis, but a growth of 1.8% on a constant currency basis.
Looking ahead, the company continues to expect revenue outlook for the full year consistent with current market expectations.
GBG Group also announced the acquisition of DataTools Pty Ltd, a provider of address validation and data quality solutions in Australia and New Zealand, for A$16.0 million or 7.9 million pounds.
On the London Stock Exchange, the shares were trading 6.50% higher at 377.75 pence.
The first-half revenue is expected to decrease to 135.5 million pounds from 136.9 million pounds in the prior year. Underlying revenue growth was 4 percent.
The company noted that its first-half financial results are in line with the Board's expectations, and that its focus on improved execution to deliver growth acceleration is on track.
In addition, the company reported to have incurred approximately 2.0 million pounds in exceptional costs related to transformation initiatives.
GBG added that the Americas business is well positioned to return to growth in the second half.
Dev Dhiman, CEO, said, "We successfully delivered our financial plan for the first half and taken together with the strength of our current sales pipeline for the remainder of the year, GBG is well positioned to accelerate growth in the second half and achieve our revenue outlook for the full year consistent with current market expectations."
GBG plans to release its first-half results on November 25.
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