TexasPete2 - who is Kane ?
Current major shareholders as at 14th November 2024
Shareholding %
Alexander Solomou: 41.62%
MAKKMA Investments Ltd: 19.99%
Abrdn: 8.03%
Canaccord Genuity Wealth Mgt: 4.66%
Slater Investments: 3.73%
Chelverton Asset Mgt: 3.35%
FIL International: 3.07%
Top 7 shareholders collectively hold 84.45% of the shares in issue. |
I wonder if this is Kane selling to take part in the Boohoo placing.... |
Shareprice has drifted down 14% since very positive interims a couple of months ago. No further news since then so it looks like some bored and impatient holders are either topslicing or exiting. |
Momentum still continues, with a further 5% rise today, despite a down day in the markets. |
Great results.
Hopefully the share price will respond! |
 Great set of interims !
STRONG FIRST HALF FINANCIAL PERFORMANCE AND MEANINGFUL PROGRESS TOWARDS £200M OF REVENUE.
LBG Media is pleased to announce its results for the half year ended 30 June 2024.
Key Highlights
· Record audience of 494m globally, of which 141m is US, highlighting our unparalleled engagement and extensive reach with young adult audiences.
· Strong revenue momentum with organic growth of 29% driving operational leverage and a significant increase in profitability.
· Proven business model driving progress towards £200m of revenue with significant strategic and operational developments across growth lenses of Direct, Indirect and US expansion.
· Strong momentum in the period to date and the Board is confident in delivering on market expectations for the 12 months to 31 December 2024.3
· Total Group revenue up 55% on a reported basis, with organic growth of 29%, which is faster than the overall market as our proposition continues to be increasingly compelling for advertisers.
· The strength of our diversified revenue model continues to improve with Direct accounting for more than 50% of total Group revenue for the first time since inception, alongside progression of our Web operations which now account for 45% of total Indirect revenue in HY24.
· Adjusted EBITDA of £10.2m (HY23: £3.0m) up 240% and benefitting from revenue growth, improvements delivered from the ANZ operating model changes and the accretive impact of Betches. Organic growth in adjusted EBITDA in the period was 190%.
· Strong adjusted cash conversion of 152% resulted in cash and cash equivalents of £26.6m at the period end (31 December 2023: £15.8m).5
Outlook
With strong financial performance and positive momentum across our growth lenses of Direct, Indirect and US expansion, management remains confident in the size of the opportunity ahead and the line of sight to £200m of revenue. Given the progress in the period to date the Board is confident in delivering on market expectations for the 12 months to 31 December 2024.3
As announced on 24 July 2024, the Group has changed its accounting reference date and financial year end so that, going forward, interim and annual accounts will be prepared and published for the six months ended 31 March and 12 months ended 30 September. The decision to change the year end was taken to better guide business planning and investment pacing and improve visibility over market dynamics, providing transparency for stakeholders by bringing the calendar Q4 spend into the first half of the financial year. As a result, our audited FY24 results, which in the first instance will be for the nine-month period ending 30 September, are expected to be announced in January 2025.
A further update on current trading will be provided at our full year results in January, alongside expanded proforma disclosures for the Annual Report and FY24 results presentation.
CEO, Solly Solomou commented: "Our strong first-half performance demonstrates excellent progress along our line of sight to £200m of revenue and showcases our team's success in diversifying income and strengthening our operating model. Key sporting event activations and rising audience numbers confirm our position as the number one digital entertainment brand for young adults, a highly sought-after but challenging demographic for marketers. I am more excited than ever by the opportunity that lies ahead, particularly in the US, where we are going from strength to strength and where the complementary nature of our combined businesses is already demonstrating success. Our thoughtful and engaging campaigns, which frequently deploy messages of social responsibility, remain central to our mission. In the complex digital media landscape, the detailed understanding we have of our audience and our propensity to be agile in such a dynamic market provide a strong foundation for long-term growth and the delivery of shareholder value." |
Thanks slim |
The NXD is Carol Kane. |
Who are NXD please? |
Interims due on 18 September. |
An NXD has invested £50K in buying 39400 shares over the past 24 hours. |
After dropping 8% earlier today due to the overall market malaise, the shareprice recovered nicely this afternoon to end the day virtually on parity with Fridays close. |
Thanks for posting that masure |
A cracking update and plenty more to come
NT has just topped up his holding as well |
Shareprice now up by more than 60% over the past 3 months ! 😊 |
‘Buy’ LBG Media, says Berenberg
The owner of LadBible, has reach into a ‘valuable audience’ of younger people.
Analyst Ciaran Donnelly retained his ‘buy’ recommendation and increased the target price from 120p to 140p on the stock, which rose 1.9% to 108p on Monday. He said the stock is ‘adding value to blue-chip brands and is ‘uniquely positioned to enable brands to target the hard-to-reach young-adult audience’. The group’s audience grew by 23% in full-year 2023 to 452m and it delivered 128bn views in the year.
"Revenues are split 43:57 between direct and indirect: on the direct side, it works with blue-chip brands like Visa, and Nike. Repeat client revenue in direct was 75% of the total in full-year 2023. This reflects the value that these and the other brands that LBG works with see in its offering, underpinned by the reach it provides into this valuable audience. We forecast 10% underlying direct revenue growth in full-year 2024."
The shares have risen 50% since full-year 2023 results in April and are now trading on 15.7 times current year 2024 price to earnings. |
I wonder if a digital media company like this would be a good acquisition for a larger media business who wish to gain access to this market |
Like a hot knife through butter, no resistance at all. |
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