Business
Pre-Close Trading update
Pre-Close Trading update.
About this update from Lbg Media Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n 19 December 2022\n \n \n \n \n \n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n \n \n \n \n \n LBG Media plc\n \n \n \n (The \"Company\" or \"Group\")\n \n \n \n Pre-Close Trading update\n \n \n \n LBG Media plc, the UK-based multi-brand, multi-channel digital youth publisher, announces a pre-close trading update for the full year ending 31 December 2022 (\"FY22\").\n \n \n Following a robust performance in the second half of the year (\"H2\") to date, full year revenue is expected to be approximately £63m and adjusted EBITDA* approximately £16m.\n \n \n As anticipated, revenue growth has accelerated in the seasonally stronger second half and Group revenue is expected to have grown by over 20% in this period vs the prior year. There has been growth across both Direct and Indirect segments against the backdrop of a challenging economic environment.\n \n \n \n Given the momentum seen in H2, and cost reduction exercise completed in November 2022, management is confident about the outlook for continued growth in 2023.\n \n \n \n \n \n \n \n \n \n \n \n *\n Earnings before interest, tax, depreciation, and amortisation adjusted for loss on disposal of intangible assets, share based payments and exceptional items\n \n \n \n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n \n \n \n LBG Media plc\n \n \n \n \n Solly Solomou, Co-founder & CEO\n \n \n Tim Croston, Chief Financial Officer\n \n \n Clara Melia, Investor Relations\n \n \n Mark Mochalski, Investor Relations\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n Zeus\n \n \n \n (Nominated Adviser & Broker)\n \nDan Bate / Nick Cowles / Benjamin Robertson\n \n \n \n \n Tel: +44 (0) 161 831 1512\n \n \n www.zeuscapital.co.uk\n \n \n \n \n \n \n \n \n \n Media enquiries\n \n \n \n Buchanan\n \nRichard Oldworth / Chris Lane / Toto Berger / Jack Devoy\n \n \n \n \n Tel: +44 (0) 20 7466 5000\n \n \n www.buchanan.uk.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ...