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GBGI shares on the up after bullish trading update

GBGI said it had seen good growth across the business in the first half of 2018 and that it expects annual earnings to be in line with expectations
Shares rising
The group said it had made a strong start to the third quarter and was confident about its full-year prospects

GBGI PLC shares jumped more than 7% after the provider of international benefits insurance said annual profits would likely meet its expectations.

The provider of employee benefits to multi-national corporations said in a trading update that it had seen good growth across the business in the first half of 2018 and that it expects annual earnings to be in line with expectations. 

Strong start to the third quarter​

The AIM-listed firm, which exited the Angolan market in 2017, also said it expected to incur one-off expenses of US$2.8mln during the year, including a US$2mln investment in the group's distribution channels.

"We have a strong start to the third quarter and we are confident in our business model and that we are making good progress on our 2018 initiatives,” GBGI’s CEO Bob Dubrish said in a statement.

Shares in GBGI were up 7.11% at 105.5p in early morning trade.

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