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Birmingham Post

Technology

Jon Robinson

ID tech firm GB Group slumps to near £120m loss after impairment charge

Identity technology specialist GB Group slumped to a loss of almost £120m during its latest financial year.

The Chester-headquartered company said its result was due to an annual impairment review which resulted in a £122.2m charge against its identity business, which is formed of its IDology and Acuant acquisitions.

In its prior financial year, GB Group had achieved a pre-tax profit of £21.7m.

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