REG - Brave Bison Grp PLC - Trading Update

Brave BisonAnnouncement

22/07/2024 08:15

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RNS Number : 2584X  Brave Bison Group PLC  22 July 2024

22 July 2024

 

 Brave Bison Group plc

 

("Brave Bison" and the "Company")

 

Trading Update

 

20% increase in Adj. Profit Before Tax year-on-year

 

58% increase in net cash year-on-year

 

Brave Bison, the digital advertising and technology services company, today
provides a trading update for the six-month period ended 30 June 2024.

 

Financial Highlights

 

 Unaudited (stated on a not less than basis)  H1 FY24  H1 FY23  % Change  FY23
 Net Revenue                                  £10.1m   £10.0m   +1%       £20.9m
 Adj. EBITDA ((1))                            £2.1m    £1.9m    +12%      £4.3m
 Adj. Profit Before Tax ((2))                 £1.8m    £1.5m    +20%      £3.6m
 Net Cash                                     £6.8m    £4.3m    +58%      £6.8m

 

Note: Small apparent errors due to rounding

 

Outlook

 

·      The Board remains comfortable with current market expectations
for the FY24 full year, and notes that Brave Bison typically benefits from a
second-half weighting as a result of seasonally higher digital media rates

 

·      Cash inflow in H2 2024 is expected to exceed £2.0m, driven by
large customer receipts in July and August and further anticipated operating
profits

 

·      SocialChain continues to perform well, with new client revenue
being delivered at higher margins as a result of successful integration and
resource management across Brave Bison

 

Oliver Green, Executive Chairman of Brave Bison, commented:

 

"We are pleased to report strong underlying performance in the first half of
the year and remain confident that momentum will build as we head towards peak
trading at the end of 2024. With SocialChain now fully integrated into the
Brave Bison platform, our proposition to advertisers connects content, data
and technology and allows us to run campaigns across the marketing funnel from
brand through to performance.

 

Our strong balance sheet and net cash position will allow us to invest further
into the business which is well primed for growth in an AI-driven and
increasingly complex digital world."

 

(1)   Adj. EBITDA is defined as earnings before interest, taxation,
depreciation and amortisation, and after adding back acquisition costs,
restructuring costs and share-based payments. Under IFRS16 most of the costs
associated with property leases are classified as depreciation and interest,
therefore Adj. EBITDA is stated before deducting these costs.

 

(2)   Adj. Profit Before Tax is stated after adding back acquisition costs,
restructuring costs, impairments, amortisation of acquired intangibles and
share-based payments, and is after the deduction of costs associated with
property leases.

 

For further information please contact:

 

Brave Bison Group plc 

Oliver Green, Executive Chairman
 
via Cavendish

Theo Green, Chief Growth Officer 

Philippa Norridge, Chief Financial Officer 

 

Cavendish Capital Markets Limited
 
Tel: +44 (0) 20 7220 0500

Nominated Adviser & Broker 

Ben Jeynes 

Dan Hodkinson 

 

About Brave Bison 

  

Brave Bison (AIM: BBSN) is a digital advertising and technology services
company, headquartered in London with a globally distributed workforce in over
ten countries. The Company provides services to global brand advertisers
through four business units. 

 

Brave Bison Performance is a paid and organic media practice. It plans and
buys digital media on platforms like Google, Meta, TikTok, Amazon and YouTube,
as well as providing search engine optimisation and digital PR services.
Customers include New Balance, Curry's and Asus.  

 

SocialChain is a social media advertising practice. It creates content for
social media platforms, and works with influencers to create and distribute
content. This creative approach ensures that content is more native to the
platform it is on, leading to higher engagements from its audience. Customers
include Holland & Barrett, The Army and General Mills.  

 

Brave Bison Commerce is a digital commerce practice. It builds complex
ecommerce platforms to support digital commerce operations. We are specialist
consultants in composable system architecture, the most advanced technology
available for enterprise customers. Customers include Furniture Village,
Fiskars and Winparts.  

 

Brave Bison Media Network is a portfolio of channels across YouTube, Facebook,
Snapchat, TikTok and Instagram. These channels generate over 1 billion monthly
views, and the advertising inventory from each channel is sold through online
advertising exchanges. Popular channels include The Hook, PGA Tour, US Open
and Link Up TV. 

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