LAD Bible owner LBG Media PLC (AIM:LBG) told investors it expects to see first-half revenue of £42.30 million, up from £27.20 million in the same period last year.
The digital publisher, in a trading update ahead of interim results due in September, said its direct revenue was up 92% to £22.00 million, whilst indirect revenue increased by 28% to £19.70 million.
It anticipates earnings (adjusted EBITDA) for the six months ended 30 June to amount to £10.20 million, which would mark a significant upgrade from the £3.00 million seen a year ago.
LBG shares advanced some 11.8% in Wednesday’s early deals, to change hands at 123p each.
Improved ‘operational leverage’ and the successful acquisition and integration of female-focussed brand Betches were key factors in the improved performance, it noted.
Betches added £7.10 million in revenue and £1.50 million in adjusted EBITDA in the period, it noted.
"It has been a strong start to the year as the business continues to make good progress along the line of sight to £200 million of revenue,” chief executive Solly Solomou said in a statement.
He added: “We have continued the integration of our US commercial teams to leverage early customer wins by presenting a 'one stop shop' for brands wanting to reach a diverse young adult audience.
“I am extremely excited by the opportunities ahead as our diverse revenue model and strong momentum position us well for continued success."
LBG Media said its global audience increased to 493 million, up from 410 million in the comparative period in 2023.
It ended the half-year with £26.60 million of cash and cash equivalents.
Looking to the full-year performance, the company pointed to a positive impact of UEFA Euro 2024 related campaigns and said its advertising revenues are expected to be more weighted to the second half.