Brave Bison pre-tax profits grow in H1

22nd Jul 2024 09:24

(Sharecast News) - Digital advertising company Brave Bison said on Monday that adjusted pre-tax profits had grown in the six months ended 30 June, leaving it confident of its ability to meet current market expectations for FY24.

Brave Bison said adjusted pre-tax profits were 20% higher at £1.8m, while adjusted underlying earnings had risen 12% to £2.1m. Net revenues ticked up 1% to £10.1m.

The AIM-listed group also highlighted that net cash had surged 58% year-on-year to £6.8m.

Brave Bison said it "remains comfortable" with current market expectations for FY24 and noted that it "typically benefits" from a H2 weighting as a result of seasonally higher digital media rates.

Executive chairman Oliver Green said: "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.

"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."

As of 0920 BST, Brave Bison shares were up 4.13% at 2.37p.

Reporting by Iain Gilbert at Sharecast.com