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LONDON (Alliance News) - Brave Bison Group PLC said Tuesday it significantly narrowed its loss in the first half of the year as it saved on administrative expenses and restructuring costs.
For the six months to June 30, the social video company posted pretax loss of GBP415,000 compared to GBP2.2 million recorded last year.
For the first half of 2017, the company incurred GBP538,000 in restructuring costs, which this year fell to GBP0. Administrative expenses a year ago were also 25% higher at GBP4.5 million while for the six-month period they fell to GBP3.4 million.
Revenue dipped 11% to GBP9.3 million from GBP10.5 million reported in the comparative year-ago period.
The company described the half-year performance as an "encouraging start to 2018", as it moves closer to profitability.
The stock was down 10% at 1.71 pence Tuesday.
