- Positive annual meeting trading update
- Integration of Social Chain well advanced
- Trading in line with market forecasts
- Several new client business wins
London-based social and digital media group Brave Bison (BBSN: 2.38p) has released a positive trading update that suggests the 13 per cent share price reversal since April’s full-year results is overdone. Billionaire British-Belizean businessman Baron Michael Ashcroft certainly believes so, having raised his stake from 16.1 to 18 per cent. He has good reason to.
Firstly, the integration of Social Chain, a market-leading social media and influencer marketing agency, is going well. It is not only generating cost savings, but the newly acquired business is delivering new engagements with blue-chip clients including Asda, Warner Bros and Pinterest. A successful integration of Social Chain is important as its contribution underpins expectations that 2023 revenue will increase a third to £42.9mn to drive pre-tax profit up by a fifth to £3.1mn. Brave Bison is trading in line with these forecasts.