Shares in GB Group PLC (LSE:GBG) fell 9% on Tuesday as investors reacted nervously to its full-year outlook, despite management confirming that trading remains in line with expectations.
For the year to 31 March 2025, the identity verification specialist reported adjusted operating profit of £67m, up 9.5%, with margins improving to 23.7%.
Revenue grew 3% on a constant currency basis to £282.7m. Cash conversion remained strong at 91.3%, and net debt fell to £48.5m.
GBG said its new financial year has begun as expected, and reiterated guidance.
However, analysts at Panmure Liberum noted that while cost control has been strong, growth remains modest.
The group is shifting toward a unified platform model and exploring a move from AIM to the Main Market. A £10m share buyback has already been completed.
The shares fell 21.4p to 246.9p.