Silver Bullet shares soar as half-year revenue rises

(Alliance News) - Silver Bullet Data Services Group PLC on Thursday said revenue for the first half of the year climbed on growth across all markets.

Shares in Silver Bullet were up 33% at 37.90 pence each in London on Thursday morning.

The London-based provider of digital transformation services and products said revenue in the six months ended June 30 was up 76% to GBP4.1 million from GBP2.3 million a year prior, and in line with expectations.

This was driven by an "established" customer base across US, UK and Asia Pacific markets, Silver Bullet said, with 35% of revenue coming from the US.

The company added that a "significantly reduced" cost base positions it to achieve a quarterly pretax profit from 2024. In the first half of 2022, Silver Bullet reported a pretax loss of GBP3.8 million.

Chief Executive Officer Ian James said: "The board is optimistic that market conditions are encouraging customers to adopt our privacy-first marketing transformation services and products, which are becoming a vital part of their business strategy."

By Sabrina Penty, Alliance News reporter

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