27th Jan 2025 10:49
(Alliance News) - Brave Bison Group PLC on Monday said it expects to report annual profit ahead of market guidance, despite a "challenging" trading environment.
The London-based digital advertising and technology services provider said adjusted pretax profit grew 8.0% to GBP3.9 million in 2024 from GBP3.6 million in 2023, outperforming company-compiled market consensus of GBP3.7 million.
Net revenue for the year rose 1.9% to GBP21.3 million from GBP20.9 million, just above the market forecast of GBP21.0 million, while total turnover declined 7.0% to GBP33.1 million from GBP35.5 million.
Adjusted earnings before interest, tax, depreciation and amortisation increased 4.5% to GBP4.5 million from GBP4.3 million, also beating market consensus of GBP4.4 million.
Chair Oliver Green said: "We are pleased to have delivered a strong set of results for FY24 despite a challenging macroeconomic environment. This performance is a testament to our future-facing trade brand and proposition to global advertisers and the work we have done around integration and technology enablement.
"Our recent acquisition of Engage Digital Partners, which will consolidate from January 2025, gives us even more reason to be excited about our future in sport and entertainment with a best-in-class team and now with a presence in India and Australia. We look forward to reporting on further progress during the year."
Brave Bison expects to release its full 2024 results in April.
Shares in Brave Bison were up 3.5% at 2.25 pence each in London on Monday morning.
By Emily Parsons, Alliance News reporter
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