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(Alliance News) - Brave Bison Group PLC on Thursday posted a multiplied interim profit as revenue doubled on customer wins and the launch of a trade brand.
Brave Bison is a London-based media and marketing company.
Pretax profit in the half-year that ended June 30 surged to GBP1.0 million from GBP172,000 a year ago. Interim profit surpassed the GBP458,000 profit it reported for the entire year 2021.
Brave Bison noted that it won 12 new customers such as Rapyd Financial Network Ltd, which calls itself the "world's largest" local payments network. Last year, it added Panasonic Corp, Vodafone Group PLC and the BBC among others as clients.
Further, it more than doubled its shows on Snap Inc's platform Snapchat to 13 from six since the start of 2022.
Revenue doubled to GBP14.7 million from GBP7.3 million.
"The first half of 2022 was a transformative period for Brave Bison, during which we have completed the integration of three businesses, made a further new acquisition, launched a new trade brand, appointed new leadership and, most importantly, continued to win new customers as the company's broadened offering continues to gain traction with existing and potential customers alike," stated Chair Oliver Green.
The acquisition refers to Brave Bison's buy of e-commerce and mobile development firm Best Response Media Ltd in April for GBP1.0 million.
Looking ahead, Chair Green said: "The board is comfortable that it will meet or exceed its expectations for the current financial year. Furthermore, and despite global macro headwinds, the board expects further growth in the next financial year as brand advertisers continue to migrate towards our differentiated customer proposition."
Brave Bison shares were 3.5% higher at 2.03 pence each in London on Thursday morning.
By Tom Budszus; tombudszus@alliancenews.com
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