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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 £20.8 million in 2023 from £16.9 million in 2022.
Turnover grew 12% to £35.5 million from £31.7 million.
Adjusted earnings before interest, tax, depreciation and amortisation surged 43% to £4.3 million from £3.0 million. Adjusted pretax profit was 38% higher at £3.6 million in 2023 from £2.6 million in 2022.
Net cash as at December 31 improved by 10% to £6.8 million from £6.2 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.’
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