LBG Media plc, the UK-based multi-brand, digital youth publisher behind the LADbible group of websites, has published its results for the half year ended 30 June, 2022.
During the period, the group delivered a robust performance, both operationally and financially, delivering total revenue of £24.8m, an increase of eight per cent on the same period last year.
Its EBITDA for the period was £1.6m, a fall of 78 per cent, which it blamed on significant investment to drive future growth, as well as the ongoing effects of Coronavirus.
Management added that it expects its full year results to be broadly in line with expectations, particularly given the company’s traditionally stronger H2 performance and the likely benefits of World Cup 2022 in November/December.
CEO Solly Solomou said: “The group has seen solid performance in the first half of the year in what is a challenging macro environment. The growth we have achieved in our audience and views is a testament to the hard work of our teams and our ability to adapt creatively to changing market conditions. Our partner brands and platforms recognise our differentiated offering and significant engagement with hard to reach audiences and we remain leaders in our field.
We continue to focus on our growth strategy, excited by the potential of the US market, and assess M&A opportunities that are complementary to our existing offering. We remain confident in the long-term prospects for the business and significant growth potential for the future.”
