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Things looking very bright for GB Group.

SHARES in Chester-based customer relations business GB Group rose by 15pc yesterday.

After beginning the day at 11.5p the shares rose to a high of 14p at midday before settling at 13.25p at close.

The increase comes a week after the company announced sales of pounds 12m on continuing business in the year to March 31, compared with pounds 11.1m last year.

Chief executive Richard Law said: ``We reported an operating profit of pounds 1.1m. We have a net cash balance of about pounds 6m and things are looking very bright for the business. Even with the increase in share price the stockmarket values the business at pounds 10.4m. ``The share price means potential investors now have a realistic basis on which to value the company, the good results this year have ensured this is the case.''

GB Group made a pounds 1.7m loss after pounds 2.2m costs on the sale of its travel operations.

The company relaunched itself in December last year with a change of name from TelMe.com and the sale of its travel business.

Mr Law said: ``We are now a more focused business concentrating on customer relations. We have a very highprofile customer list including companies such as BskyB, Thomas Cook and NPower.''
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Title Annotation:Business
Publication:Daily Post (Liverpool, England)
Date:Jun 11, 2002
Words:215
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