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(Alliance News) - Brave Bison Group PLC on Friday said it has swung to an interim profit in the first half of 2021 as the group saw increases in advertising revenue across its media network.
Shares in Brave Bison were up 11% at 1.89 pence each in London on Friday morning. The stock is up 85% so far in 2021.
Pretax profit for the six months that ended June 30 was GBP172,000, swinging from a GBP1.4 million loss a year before.
The London-based social media and marketing firm reported revenue of GBP7.3 million, up 32% from GBP5.5 million. The majority of the increase in revenue came from an increase in advertising revenue across Brave Bison's media network, comprising channels across YouTube, Snap, and Facebook.
Going forward, Brave Bison remains acquisitive and is pursuing attractive opportunities to expand the group, it said, with a number of discussions ongoing.
The company's strategy of combining social advertising and creative services means it has a particular interest in acquiring profitable digital and social marketing businesses, as well as high-growth media assets and social communities, Brave Bison noted.
"Our group continues to be profitable on a month-by-month basis and has now been cash generative in two consecutive half year periods. I look forward to continued momentum in the second half of the year, which is historically a stronger trading period as a result of Christmas related advertising budgets," said Executive Chair Oliver Green.
By Amrit Sahota; newsroom@alliancenews.com
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