Gana Media Group plc AIM:GANA
- Incorporated
- United Kingdom
- Chief executive
- Mark Epstein
- Employees
- 8
- Reports in
- GBP
- Companies House
- 03696108
Read straight from the annual reports
No price history · 11 reported years, 2015–2025
No daily prices have been collected for this company.
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
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Development, marketing and intelligence services supplied to BET / Estadio Gana (Mexican sports-betting business)
£1,355k of FY25 revenue (FY24: £350k), i.e. the large majority of the £1,412k group total; revenue recognised over time for pre-launch works specified by the customer (Estadio Gana).
page 41Legacy mobile content / mobile operator sales (Mexico, India, Argentina, UK)
Legacy revenues declined to £57k (FY24: £86k); Mobile Operator Services £14k and other service fees £43k in the segment table. Argentine business closed 9 October 2024. IGS Streams Data revenue ceased on 30 June 2023.
page 5Gross margin on development services (internal headcount costs charged to BET work and reported in administrative expenses)
Gross profit £1,269k on revenue £1,412k, a 90% margin (FY24: 89% in the strategic report, 88% in the KPI section); cost of sales only £143k.
page 5Administrative cost growth from the set-up of the BET business
Administrative expenses £3,151k (FY24: £1,565k), including staff costs £1,732k, professional fees £559k, expected credit losses £79k and share-based payments £626k. Trading EBITDA loss widened to £1,127k (FY24: £885k).
page 5£447k charge: Impairment of investment in associate (Capital Media Sports) to nil
page 49Looking ahead to 2026 the Board has put together a strategy that we believe is both exciting and achievable; subject to the continuing development of the BET business, the level of trade in this new business segment will continue to build significantly.
page 41 July 2025: warrant exercise of 247,431,746 shares, completed for £376k, taking issued shares to 10,269,259,735.
page 59No dividend proposed for FY25 (FY24: nil). The Board has not proposed a dividend; no stated payout policy is given.
page 4Going concern basis adopted by the directors for 12 months from sign-off (19 December 2025), relying on the £3.0m funding round with the Estadio Gana reverse takeover and cash of £1,550k. The directors' sensitivities show BET revenue reduced by more than 75% (note 1) or more than 80% (directors' report) and say discretionary spending would be cut in that case. Auditor: Saffery LLP, unmodified opinion dated 19 December 2025 (Luke Hanratty, senior statutory auditor), with an emphasis of matter on note 11A (Estadio Gana equity accounting). Key audit matters were going concern (auditor concluded no material uncertainty) and recoverability of balances relating to Estadio Gana. Group materiality was £100k (2024: £100k).
page 21- Concentration in BET (Mexican sports betting) development: the group's operations, revenue and forecasts depend on BET's growth and exposure to MXN, Mexican betting legislation and receivablesp.7
- Customer concentration: one related associate (Estadio Gana) supplied c.96% of FY25 revenue and owes £1,452k of trade receivablesp.40
- Going concern and forecast uncertainty: revenue downside of over 75% (note 1) or over 80% (directors' report) could require cost cuts; funding depends on completing the reverse takeover and £3.0m roundp.31
- Recoverability of Estadio Gana balances (receivables, convertible loan note and intangibles) depends on the associate's trading; assumes 15% chance of settlement at a 20% discount for ECLp.39
Read from C000519-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 29 Dec 2026