Last checked at 7 Dec 2017 07:00
7 December 2017
Brave Bison Group plc
("Brave Bison" or "the Group")
Trading Update
Brave Bison Group plc (AIM: BBSN), the independent digital media & social video broadcaster, today provides a trading update for year to 31 December 2017.
The Board expects to report Net Revenues of approximately £9.1m, ahead of expectations, and an adjusted EBITDA* loss of £0.9m which includes a forecast £0.4m foreign exchange loss (2016: £1.4m gain).
*excludes exceptional items and share-based payments
The Group continues to move up the value chain, with an increased focus on production and branded content deals, resulting in higher-margin revenues. Although slower than originally anticipated, and therefore now expected to take somewhat longer to achieve profitability, it has resulted in a substantially reduced expected EBITDA* loss for 2017 (2016: loss of £1.8m).
At 30 November 2017, the Group had £4.1 million in cash and remains funded, on current expectations, to reach profitability.
The Group expects to announce full year 2017 results towards the end of March 2018, to include an update from the new management on the strategy for the business.
For further information, contact:
Brave Bison Group plc Tel: 020 7183 4545
Claire Hungate, Chief Executive Officer
Stockdale Securities Tel: 020 7601 6100
Richard Johnson / Andy Crossley
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
About Brave Bison
Brave Bison is an independent digital media and social video broadcaster, proudly working with some of the biggest brands and most followed YouTube and Facebook talent in the world. Clients include P&G, Shell, PGA Tour, Paramount and Google.
Brave Bison makes it simple for content owners, creators, brands, publishers and platforms to unlock the value of online video, whether on a licensed, ad-funded, direct to consumer or paid placement basis.
The business is based in two regions - Europe, with headquarters in London; and APAC, with offices in Singapore.