GBG Plc (GBG) reported strong underlying revenue growth for FY22 while profitability growth reflected the resumption of investment in the business. GBG has demonstrated the ability to navigate challenges with its performance over the COVID-19 pandemic and Edison Group views its diversified business (by geography and vertical) as a strength in an uncertain market environment. Edison’s forecasts are substantially unchanged and in its view the valuation has become increasingly detached from the company’s growth potential with the share price being down c 40% year-to-date. GB Group is a specialist in identity data intelligence with headquarters in the UK and operates across 17 countries.
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