Brave Bison has reported significant financial growth for the first half of the year, showcasing an impressive performance across various metrics.
The company, which recently acquired the well-known Manchester agency SocialChain, saw its adjusted pre-tax profits rise by 20% to £1.8m for the six months ending June 30. Additionally, adjusted underlying earnings increased by 12% to £2.1m, and net revenues grew by 1% to reach £10.1m.
Moreover, Brave Bison experienced a substantial 58% year-on-year increase in net cash, totalling £6.8m. Despite facing setbacks, such as the unsuccessful attempt to acquire Mission Group, the team remains optimistic. The company confidently projects meeting market expectations for the fiscal year 2024, benefiting from seasonally higher digital media rates in the second half of the year.
Executive chairman Oliver Green expressed his satisfaction with the company’s performance. He stated, “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.” Green also highlighted the company’s robust balance sheet and net cash position, which will support further investments in an AI-driven and increasingly complex digital world.
Following the announcement, Brave Bison’s shares rose by 4.13%, reaching 2.37p. This upward trend indicates investor confidence in the company’s strategic direction and growth potential.
With strong financials and a clear strategy, Brave Bison is well-positioned for future growth, especially as it navigates the evolving digital landscape.