LBG Media
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LBG Media (LBG) investor relations material

LBG Media Trading update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Trading update summary22 Apr, 2026

Revenue performance and mix

  • Revenue grew 19% to £52.4m in H1 26, with constant currency growth of 22%, up from 10% in FY25.

  • Direct revenue streams now account for over 70% of total revenue, up from about 55% in FY25.

  • Indirect revenue streams did not recover, with continued impact from Meta's Facebook algorithm changes.

Profitability and investment

  • Adjusted EBITDA fell to £8.0m (H1 25: £12.2m) due to investment in leadership, sales, and revenue mix shift.

  • EBITDA margin decline reflects higher Direct revenue share, which has lower margins than Indirect.

Strategic initiatives and technology

  • Ongoing investment in generative AI is driving productivity and client engagement.

  • Expansion in the U.S. and UK Direct markets is supported by senior hires and growing blue-chip client demand.

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