LBG Media, the London-listed digital media publisher, has announced its expectations for a significant increase in adjusted earnings and revenue for the year. The company attributes this growth to a strong performance in its U.S., U.K., and Ireland businesses, as well as a notable expansion of its audience.
LBG Media projects that its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year ending December 31 will rise by 8% to at least £17 million ($21.6 million), compared to £15.7 million in the previous period. Revenue is also expected to increase from £62.8 million to £67 million, driven by accelerated progress in the U.S. market following the acquisition of Betches Media in October.
"The board remains confident in the growth outlook for 2024, supported by the progression of our U.S. ambitions with Betches Media, realizing the benefits of our new operating model in Australia as well as the opportunities represented by key advertising moments such as Euro 2024 and the Olympics," stated LBG Media.
This positive forecast reflects LBG Media's commitment to expanding its presence globally and capitalizing on key advertising opportunities.
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