The year-on-year doubling of EBITA in H118 reflects continued strong underlying organic growth at GB Group (GBG), boosted by recent acquisitions and a perpetual licence deal. H2 has started well and forecasts, which are largely unchanged, appear comfortably underpinned. GBG’s consistent organic performance and increasing product innovation support its current rating, meanwhile its buy and build strategy could support further earnings-driven share price upside.
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