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(Alliance News) - Brave Bison Group PLC on Tuesday said that its results for the last year beat market expectations as it remained focused on becoming a "market-leading" digital advertising company.
Brave Bison shares jumped 19% to 2.20 pence each on Tuesday morning in London.
The London-based digital advertising and technology service provider said net revenue jumped 23% to GBP20.8 million in 2023 from GBP16.9 million in 2022.
Turnover grew 12% to GBP35.5 million from GBP31.7 million.
Adjusted earnings before interest, tax, depreciation and amortisation surged 43% to GBP4.3 million from GBP3.0 million. Adjusted pretax profit was 38% higher at GBP3.6 million in 2023 from GBP2.6 million in 2022.
Net cash as at December 31 improved by 10% to GBP6.8 million from GBP6.2 million.
The company highlighted that it won several new clients in 2023, including Pinterest Inc, John Lewis Partnership PLC, Warner Bros Discovery Inc and Asda Stores Ltd.
Chair Oliver Green said: "Our mission to become a market-leading digital advertising and technology services company has advanced notably with the acquisition of SocialChain and we are optimistic for further growth in 2024."
By Tom Budszus, Alliance News slot editor
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