Identity intelligence specialists GB Group revealed record revenues in its annual financial results.

It cited growing levels of new business from blue chip organisations including British Airways and HSBC as one reason for the strong performance.

GBG said the 24 per cent increase in adjusted operating profits to £13.4million were ahead of market expectations. It managed revenue growth of 28% to £73.4m.

Strong growth in international revenues, increasing to 26% of the total figure, reflected the expansion of its operations outside the UK.

“GBG has had another strong year achieving record revenues and delivering profitability ahead of market expectations. This is testament to the hard work, dedication and talent of our excellent team,” said GB Group CEO Richard Law.

“This was achieved whilst simultaneously increasing our operating expenditure on the development of new products, expanding our international operations and strengthening our management team. 

“As a result we enter the new financial year with strong momentum and excellent prospects and I’m pleased to report that trading since the start of the year is in line with the board’s expectations.”

Chester-based GBG is a global specialist in Identity Data Intelligence, helping organisations including Nike and Harrods make decisions about the customers they serve and the people they employ in order with the aim of improving the customer experience.

It operates in 13 countries.

Below: Richard Law and others consider how Manchester can become the 'Silicon Valley of the UK'