GB Group (GBG) has posted a rise in annual operating to £61.2m, up from £59.8m last year, despite announcing a slight fall in its annual revenue.

The software firm’s total revenue slipped to £277.3m in the year to 31 March, down from £278.8m last year.

GBG, which provides identity verification, location intelligence and fraud prevention services, was reporting its first set of results since CEO, Dev Dhiman, took the role at the group.

“My first few months have focused on our teams, customers and business partners across GBG,” CEO at GB Group, Dev Dhiman, commented.

“This has reinforced my confidence in our competitive differentiation and our market opportunity. I believe we have opportunities to build on our momentum and capitalise on the strong and attractive structural growth drivers in the market.”

GBG added that the new financial year has begun “in-line with expectations”, with improved momentum in its identity and location operations continuing from the final quarter of FY24.

For the full year, GBG is expecting mid-single-digit revenue growth on a constant currency basis, to drive high single-digit growth in adjusted operating profit given the operational efficiency gains achieved in FY24.

“GBG plays an important role in protecting consumers and businesses from fraud while enabling our customers to reach and build trust with their customers,” Dhiman added.

“We will continue to play this critical and increasingly relevant role over the long term for the benefit of all of our stakeholders.”

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