GB Group extends share buyback as eyes acceleration in sales growth
GB Group PLC on Tuesday backed full-year guidance, underpinned by ‘underlying momentum’, and continued improvement in the Americas.
The Chester, England-based software company said pretax profit slumped 27% to £4.1 million in the six months ended September from £5.6 million the year prior.
Constant currency adjusted operating profit grew 4.6% to £29.5 million from £28.2 million.
Revenue ebbed 1.0% to £135.5 million from £136.9 million, in line with guidance provided in October.
Diluted earnings per share rose 33% to 0.8 pence from 0.6p.
GB Group said it is ‘pleased with the strong operational execution’ in the first half and an improved sales pipeline.
‘Our underlying momentum, including continued improvement in Americas, underpins the board’s confidence that GBG will accelerate constant currency revenue growth to a mid-single-digit percentage in the second half,’ it added.
GB Group expects full year financial performance to be in line with current market expectations.
In addition, the company extended its share buyback programme by £10 million, taking repurchases announced in financial 2026 to £45 million.
Deutsche Bank AG will manage the buyback which GB Group considers ‘an attractive use of surplus capital.’
Shares in GB Group jumped 7.4% to 254.00p each in London on Tuesday.
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