LONDON (Alliance News) - Brave Bison Group PLC shares rose on Wednesday after the company announced that its trading in 2018 is ahead of management expectations due to increased advertising and distribution revenue.
Shares in the social video company were up 15% at 1.95 pence on Wednesday.
Brave Bison said it expects to post its first positive full-year adjusted earnings before interest, taxation, depreciation, and amortization since its 2013 AIM admission.
Increased advertising and distribution revenue have placed the firm ahead of management expectations, with revenue in 2018 expected to show double-digit percentage growth year-on-year.
As at November 30, Brave Bison's cash and cash equivalents stood at GBP5.1 million and it had no overdraft or other borrowings, it said.
Despite strategic initiative investments, Brave Bison nonetheless predicts it will be cash-flow positive for the year.
"2018 is on track to be a year of real progress, which we expect to be reflected in an improved financial performance when we announce our results," said Brave Bison Chief Executive Claire Hungate.
"It is early days in my tenure, but we are making significant progress and look forward to building on this strong performance in 2019," Hungate added.
Brave Bison (BBSN)