11th Sep 2025 12:26
(Alliance News) - Brave Bison Group PLC on Thursday reported higher first-half revenue and increased its full-year guidance, though profit declined sharply on recent acquisitions.
Shares in the London-based marketing technology firm rallied as Brave Bison noted a new acquisition. Its stock rose 7.1% to 69.35 pence on Thursday afternoon in London, having gained 43% in the past 12 months.
The firm posted GBP12.0 million in net revenue for the six months that ended June 30, up 19% from GBP10.1 million the year prior.
However, pretax profit shrank to GBP104,000 from GBP1.2 million. Brave Bison attributed the slip to GBP1.0 million in acquisition costs, compared to GBP33,000 on-year. Adjusted earnings before interest, tax, depreciation and amortisation totalled GBP2.3 million, up 6% from GBP2.1 million.
"We have had a busy 2025 so far. Having not made an acquisition for almost two years, we have now announced five transactions in 2025 year to date, improving our competitive position and entering new markets with the acquisition of MiniMBA," commented Chair Oliver Green.
MiniMBA is an online marketing education platform. Green continued:
"We completed our largest ever fundraising and are delighted to welcome new shareholders and strategic partners including global media company News Corp, industry legend Mark Ritson and a number of new institutional shareholders."
Also on Thursday, Brave Bison said it has acquired consulting firm MTM London Ltd for an initial GBP6 million. MTM's clients include technology and media firms such as Google and Samsung.
Brave Bison will pay an initial GBP5 million in cash and GBP1 million in shares. A further GBP6 billion cash and share consideration is payable over five years and self-funding, subject to MTM's performance and continuing employment.
"MTM would need to generate cumulative Ebitda profits of GBP10.7 million in the 5 years post completion, from which Brave Bison would receive GBP6.7 million, more than recouping the initial investment," Brave Bison noted.
The takeover is being funded by a revolving credit facility and existing cash resources. Brave Bison predicts net bank debt between GBP4 million and GBP5 million at December 31, which is roughly 0.5x the pro-forma Ebitda, which Brave Bison is targeting post completion.
It expects the purchase to double Ebitda to GBP9.4 million from GBP4.5 million on-year. Net revenue is expected to rise to GBP44 million from GBP21.3 million in 2024. Both targets are on a pro-forma basis, Brave Bison said.
Looking ahead, the marketing firm anticipates beating full-year consensus, which sees GBP29.2 million in net revenue and Ebitda of GBP5.7 million.
By Holly Munks, Alliance News reporter
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