LBG Media

LBG · AIM · Media · mcap £62m · 29.4p

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Financials · LTM to 31 Mar 26

Source: results 09 Jun 26 ↗

Revenue: £101m
Operating profit: £7.3m
Net income: £5.6m
Free cash flow: £2.3m
Net cash: £28.4m
Market cap: £61.5m
EV / EBIT: 5.4×
FCF yield: +3.8%
Price / book: 0.7×

Latest half-year · H1 Mar 26 vs H1 Mar 25 results 09 Jun 26 ↗

Revenue: £52.4m
Operating profit: £2.0m
Net income: £1.3m
Cash from operations: £2.1m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Half-year Results, published 09 Jun 26 · read the announcement ↗

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME · PERIOD ended 31 MARCH 2026

	Period ended 31 March 2026 £'000 (unaudited)	Period ended 31 March 2025 £'000 (unaudited)
Revenue	52,363	43,944
Net operating expenses	(50,398)	(35,578)
Operating profit	1,965	8,366
Analysed as
Adjusted EBITDA 1	8,047	12,208
Depreciation	(1,393)	(1,208)
Amortisation	(1,186)	(1,241)
Equity-settled share-based payments charge	(970)	(1,048)
Cash-settled share-based payments charge	59	25
Fair value movement in contingent consideration	(942)	-
Adjusting items	(1,650)	(370)
Group operating profit	1,965	8,366
Finance income	184	167
Finance costs	(693)	(726)
Net finance costs	(509)	(559)
Share of post-tax profits of equity-accounted joint venture	356	816
Profit before taxation	1,812	8,623
Income tax expense	(526)	(2,366)
Profit for the financial period attributable to equity holders of the Company	1,286	6,257
Currency translation differences (net of tax)	489	(1,242)
Profit and total comprehensive income for the financial period attributable to equity holders of the Company	1,775	5,015
Basic earnings per share (pence)	0.6	3.0
Diluted earnings per share (pence)	0.6	2.9

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION · AS AT 31 MARCH 2026

	As at 31 March 2026 £'000 (unaudited)	As at 31 March 2025 £'000 (unaudited)	As at 30 September 2025 £'000 (audited)
Assets
Non-current assets
Goodwill and other intangible assets	34,720	37,100	35,258
Property, plant and equipment	17,789	3,978	3,059
Investments in equity-accounted joint ventures	2,611	2,011	2,254
Other receivables	116	116	119
Deferred tax asset	2,020	159	1,711
Total non-current assets	57,256	43,364	42,401
Current assets
Trade and other receivables	33,152	24,294	28,019
Inventory	-	21	-
Current tax asset	1,369	-	583
Cash and cash equivalents	28,438	32,924	30,837
Total current assets	62,959	57,239	59,439
Total assets	120,215	100,603	101,840
Equity
Called up share capital	209	209	209
Share premium reserve	28,993	28,993	28,993
Treasury shares	(3,944)	(1,415)	(3,238)
Accumulated exchange differences	(2,138)	(3,857)	(2,627)
Retained earnings	59,581	53,877	57,325
Total equity	82,701	77,807	80,662
Liabilities
Non-current liabilities
Non-current lease liability	13 ,561	1,320	952
Provisions	549	493	484
Non-current contingent consideration	-	-	1,331
Deferred tax liability	438	424	232
Total non-current liabilities	14 ,548	2,237	2,999
Current liabilities
Current lease liability	741	1,485	1,223
Trade and other payables	13,383	9,808	11,237
Contingent consideration	8,615	7,918	5,710
Current tax liabilities	-	1,348	-
Derivatives	227	-	9
Total current liabilities	22 ,966	20,559	18,179
Total liabilities	37,514	22,796	21,178
Total equity and liabilities	120,215	100,603	101,840

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS · PERIOD ended 31 MARCH 2026 · Period ended 31 March 2026 £'000 (unaudited) Period ended 31 March 2025 £'000 (unaudited) Year ended 30 September 2025 £'000 (audited)


Net cash flow from operating activities
Profit for the financial period/year	1,286	6,257	10,620
Income tax	526	2,366	3,404
Net interest expense	509	559	719
Share of post-tax profits of equity accounted joint venture	(356)	(816)	(1,059)
Operating profit	1,965	8,366	13,684
Depreciation charge	9	1,393	1,208	2,417
Amortisation of intangible assets	8	1,186	1,241	2,386
Equity settled share-based payments	11	970	1,048	1,851
Cash settled share-based payment	11	(59)	(25)	99
Settlement of cash settled share options	(91)	-	(980)
Effect of exchange rates on contingent consideration	-	-	127
Fair value movement in contingent consideration	12	942	-	3,220
(Increase)/decrease in trade and other receivables	(5,169)	1,767	(1,935)
Increase/(decrease) in trade and other payables	2,391	(237)	2,417
Cash generated from operations	3,528	13,368	23,286
Tax paid	(1,416)	(3,290)	(7,944)
Net cash generated from operating activities	2,112	10,078	15,342
Cash flows from investing activities
Purchase of intangible assets	8	(256)	(107)	(394)
Purchase of property, plant and equipment	9	(2,517)	(197)	(480)
Settlement of amounts payable to sellers	-	-	(213)
Payment of contingent consideration	-	-	(4,339)
Net cash used in investing activities	(2,773)	(304)	(5,426)
Cash flows from financing activities
Lease payments	10	(1,099)	(1,466)	(2,080)
Lease deposits paid	-	(49)	(50)
Lease deposits received	8	106	104
Purchase of own shares	(706)	(2,863)	(4,013)
Interest received	-	195	-
Interest paid	10	(55)	(104)	(181)
Net cash used in financing activities	(1,852)	(4,181)	(6,220)
Net (decrease)/ increase in cash and cash equivalents	(2,513)	5,593	3,696
Cash and cash equivalents at the beginning of the period	30,837	27,174	27,174
Effect of exchange rate changes on cash and cash equivalents	114	157	(33)
Cash and cash equivalents at the end of the period/year 1	28,438	32,924	30,837
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
AS AT 31 MARCH 2026
Balance as at 1 October 2024	209	28,993	-	(2,615)	46,572	73,159
Profit for the financial period	-	-	-	-	6,257	6,257
Currency translation differences	-	-	-	(1,242)	-	(1,242)
Total comprehensive (loss)/income for the period	-	-	-	(1,242)	6,257	5,015
Purchase of own shares	-	-	(2,863)	-	-	(2,863)
Transfers to employees	-	-	1,448	-	-	1,448
Share based payments	-	-	-	-	1,048	1,048
Total transactions with owners, recognised directly in equity	-	-	(1,415)	-	1,048	(367)
Balance as at 31 March 2025 (unaudited)	209	28,993	(1,415)	(3,857)	53,877	77,807
Profit for the financial period	-	-	-	-	4,363	4,363
Currency translation differences	-	-	-	1,230	-	1,230
Total comprehensive income for the period	-	-	-	1,230	4,363	5,593
Purchase of own shares (EBT)	-	-	(1,150)	-	-	(1,150)
Transfer to employees	-	-	(1,448)	-	-	(1,448)
Own shares used to satisfy vested awards	-	-	775	-	(775)	-
Share-based payments	-	-	-	-	803	803
Equity-settled share options switched to cash-settled share options	-	-	-	-	(942)	(942)
Deferred tax on share option	-	-	-	-	(1)	(1)
Total transactions with owners, recognised directly in equity	-	-	(1,823)	-	(915)	(2,738)
Balance as at 30 September 2025 and 1 October 2025 (audited)	209	28,993	(3,238)	(2,627)	57,325	80,662
Profit for the financial period	-	-	-	-	1,286	1,286
Currency translation differences	-	-	-	489	-	489
Total comprehensive income for the period	-	-	-	489	1,286	1,775
Purchase of own shares (EBT)	-	-	(706)	-	-	(706)
Share-based payments	-	-	-	-	970	970
Total transactions with owners, recognised directly in equity	-	-	(706)	-	970	264
Balance as at 31 March 2026 (unaudited)	209	28,993	(3,944)	(2,138)	59,581	82,701

Full year results - Correction, published 04 Feb 26 · read the announcement ↗

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME · Year ended 30 September 2025

	Year ended 30 September 2025 £'000	Period ended 30 September 2024 1 £'000
Revenue	92,225	64,945
Net operating expenses	(78,541)	(52,383)
Operating profit	13,684	12,562
Analysed as
Adjusted EBITDA 2	25,249	16,929
Depreciation	(2,417)	(1,814)
Amortisation	(2,386)	(1,820)
Equity-settled share-based payments charge	(1,851)	(566)
Cash-settled share-based payments charge	(99)	(167)
Fair value movement in contingent consideration	(3,220)	-
Adjusting items	(1,592)	-
Group operating profit	13,684	12,562
Finance income	471	289
Finance costs	(1,190)	(1,217)
Net finance costs	(719)	(928)
Share of post-tax profits of equity-accounted joint venture	1,059	505
Profit before taxation	14,024	12,139
Income tax expense	(3,404)	(3,185)
Profit for the financial year attributable to equity holders of the Company	10,620	8,954
Currency translation differences (net of tax)	(12)	(1,562)
Profit and total comprehensive income for the financial year attributable to equity holders of the Company	10,608	7,392
Basic earnings per share (pence)	5.1	4.3
Diluted earnings per share (pence)	5.0	4.1

CONSOLIDATED STATEMENT OF FINANCIAL POSITION · As at 30 September 2025

	As at 30 September 2025 £'000	As at 30 September 2024 £'000
Assets
Non-current assets
Goodwill and other intangible assets	35,258	37,330
Property, plant and equipment	3,059	4,947
Investments in equity-accounted joint ventures	2,254	1,195
Other receivables	119	219
Deferred tax asset	1,711	274
Total non-current assets	42,401	43,965
Current assets
Trade and other receivables	28,019	25,982
Inventory	-	22
Current tax asset	583	-
Cash and cash equivalents	30,837	27,174
Total current assets	59,439	53,178
Total assets	101,840	97,143
Equity
Called up share capital	209	209
Share premium reserve	28,993	28,993
Treasury shares	(3,238)	-
Accumulated exchange differences	(2,627)	(2,615)
Retained earnings	57,325	46,572
Total equity	80,662	73,159
Liabilities
Non-current liabilities
Non-current lease liability	952	1,757
Provisions	484	482
Non-current contingent consideration	1,331	3,240
Deferred tax liability	232	535
Total non-current liabilities	2,999	6,014
Current liabilities
Current lease liability	1,223	2,485
Trade and other payables	11,237	9,460
Contingent consideration	5,710	3,811
Current tax liabilities	-	2,214
Derivatives	9	-
Total current liabilities	18,179	17,970
Total liabilities	21,178	23,984
Total equity and liabilities	101,840	97,143

CONSOLIDATED STATEMENT OF CASH FLOWS · Year ended 30 September 2025

	Year ended 30 September 2025 £'000	Period ended 30 September 2024 1 £'000
Net cash flow from operating activities
Profit for the financial year/period	10,620	8,954
Income tax	3,404	3,185
Net interest expense	719	928
Share of post-tax profits of equity-accounted joint venture	(1,059)	(505)
Operating profit	13,684	12,562
Depreciation charge	2,417	1,814
Amortisation of intangible assets	2,386	1,820
Equity-settled share-based payments	1,851	566
Cash-settled share-based payment	99	167
Settlement of cash-settled share options	(980)	(305)
Effect of exchange rates on contingent consideration	127	(13)
Fair value movement in contingent consideration	3,220	-
(Increase)/decrease in trade and other receivables	(1,935)	2,737
Increase in trade and other payables	2,417	916
Cash generated from operations	23,286	20,264
Tax paid	(7,944)	(2,638)
Net cash generated from operating activities	15,342	17,626
Cash flows from investing activities
Purchase of intangible assets	(394)	(563)
Purchase of property, plant and equipment	(480)	(466)
Settlement of amounts payable to sellers	(213)	-
Payment of contingent consideration	(4,339)	(3,120)
Net cash used in investing activities	(5,426)	(4,149)
Cash flows from financing activities
Lease payments	(2,080)	(1,621)
Lease deposits paid	(50)	(50)
Lease deposits returned	104	25
Proceeds from share issue	-	2
Purchase of own shares (EBT)	(4,013)	-
Interest paid	(181)	(182)
Net cash used in financing activities	(6,220)	(1,826)
Net increase in cash and cash equivalents	3,696	11,651
Cash and cash equivalents at the beginning of the year/period	27,174	15,800
Effect of exchange rate changes on cash and cash equivalents	(33)	(277)
Cash and cash equivalents at the end of the year/period 2	30,837	27,174

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 Mar 26 (six months to 31 Mar 26), published 09 Jun 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Mar 26	FY Sep 25
Revenue to operating profit
Revenue	100.6	92.2
Adjusted EBITDA	21.1	25.2
Exceptional / adjusting items	(2.9)	(1.6)
Operating profit	7.3	13.7
Depreciation (owned assets)	(2.6)	(2.4)
Amortisation	(2.3)	(2.4)
Share-based payments	(1.8)	(1.9)
Operating profit to net income
Fair value gains / losses	–	(3.2)
Finance costs	(1.2)	(1.2)
Profit before tax	7.2	14.0
Tax	(1.6)	(3.4)
Net income (owners)	5.6	10.6
Per share
EPS basic	2.7p	5.1p
EPS diluted	2.7p	5.0p

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue to operating profit
Revenue	52.4	+19%	48.3	43.9
Adjusted EBITDA	8.0	−34%	13.0	12.2
Exceptional / adjusting items	(1.6)	+346%	(1.2)	(0.4)
Operating profit	2.0	−77%	5.3	8.4
Depreciation (owned assets)	(1.4)	+15%	(1.2)	(1.2)
Amortisation	(1.2)	−4%	(1.1)	(1.2)
Share-based payments	(1.0)	−7%	(0.8)	(1.0)
Operating profit to net income
Finance costs	(0.7)	−5%	(0.5)	(0.7)
Profit before tax	1.8	−79%	5.4	8.6
Tax	(0.5)	−78%	(1.0)	(2.4)
Net income (owners)	1.3	−79%	4.4	6.3
Per share
EPS basic	0.6p	–	2.1p	3.0p
EPS diluted	0.6p	–	2.1p	2.9p

	LTM Mar 26	FY Sep 25
Operating activities
Cash from operations	7.4	15.3
Interest paid	(0.1)	(0.2)
Tax paid	(6.1)	(7.9)
Investing activities
Capex (PP&E)	(2.8)	(0.5)
Capex (intangibles)	(0.5)	(0.4)
Financing activities
Lease principal paid	(1.7)	(2.1)
Share buybacks	(1.9)	(4.0)
Shares issued	–	0.0

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Operating activities
Cash from operations	2.1	−79%	5.3	10.1
Interest paid	(0.1)	−47%	(0.1)	(0.1)
Tax paid	(1.4)	−57%	(4.7)	(3.3)
Investing activities
Capex (PP&E)	(2.5)	n/m	(0.3)	(0.2)
Capex (intangibles)	(0.3)	+139%	(0.3)	(0.1)
Financing activities
Lease principal paid	(1.1)	−25%	(0.6)	(1.5)
Share buybacks	(0.7)	−75%	(1.1)	(2.9)

	Latest Mar 26	FY Sep 25	FY Sep 24
Non-current assets
Property, plant & equipment	17.8	3.1	4.9
Associates & JVs	2.6	2.3	1.2
Non-current assets	57.3	42.4	44.0
Current assets
Inventories	–	0.0	0.0
Trade receivables	33.2	28.0	26.0
Cash	28.4	30.8	27.2
Current assets	63.0	59.4	53.2
Total assets	120.2	101.8	97.1
Current liabilities
Trade payables	13.4	11.2	9.5
Lease liabilities, current	0.7	1.2	2.5
Current liabilities	23.0	18.2	18.0
Non-current liabilities
Lease liabilities, non-current	13.6	1.0	1.8
Deferred consideration	8.6	5.7	–
Non-current liabilities	14.5	3.0	6.0
Total liabilities	37.5	21.2	24.0
Equity
Total equity	82.7	80.7	73.2
Net cash and other figures
Net cash / (debt) ex leases	28.4	30.8	–
Treasury shares	-3.9m	-3.2m	–

	H1 Mar 26	H2 Sep 25	H1 Mar 25	H2 Sep 24
Non-current assets
Property, plant & equipment	17.8	3.1	4.0	4.9
Associates & JVs	2.6	2.3	2.0	1.2
Non-current assets	57.3	42.4	43.4	44.0
Current assets
Inventories	–	0.0	–	0.0
Trade receivables	33.2	28.0	24.3	26.0
Cash	28.4	30.8	32.9	27.2
Current assets	63.0	59.4	57.2	53.2
Total assets	120.2	101.8	100.6	97.1
Current liabilities
Trade payables	13.4	11.2	9.8	9.5
Lease liabilities, current	0.7	1.2	1.5	2.5
Current liabilities	23.0	18.2	20.6	18.0
Non-current liabilities
Lease liabilities, non-current	13.6	1.0	1.3	1.8
Deferred consideration	8.6	5.7	7.9	–
Non-current liabilities	14.5	3.0	2.2	6.0
Total liabilities	37.5	21.2	22.8	24.0
Equity
Total equity	82.7	80.7	77.8	73.2
Net cash and other figures
Net cash / (debt) ex leases	28.4	30.8	–	–
Treasury shares	-3.9m	-3.2m	-1.4m	–

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.