- Annual revenue up 13 per cent to £35.7mn
- Adjusted pre-tax profit up 38 per cent to £3.6mn
- Underlying EPS up 18 per cent to 0.29p
- Closing net cash of £6.8mn (0.53p)
London-based social and digital media group Brave Bison (BBSN:2.6p) had already flagged up better than expected annual results in a pre-close trading update (‘Brave Bison’s rally is far from over', 12 February 2024).
The step change in profit mainly reflects the £7.7mn cash acquisition (part-funded by a £4.75mn placing at 2.3p in February 2023) of Social Chain, a market-leading social media and influencer marketing agency, which ramped up the group's exposure to the social media advertising sector, the fastest-growing subsection in the wider industry.