Last checked at 26 Jul 2016 07:00
Brave Bison Group plc
("Brave Bison" or the "Company")
Trading Update & Notice of Interim Results
Brave Bison Group Plc (AIM: BBSN), the independent Digital Media & Social Video Broadcaster, today issues a trading update for the period from 01 January 2016 to 30 June 2016, in advance of its 2016 Interim Results, expected to be announced on 31 August 2016.
Following a successful re-structuring and cost management programme, Brave Bison's performance for the first six months of the year is in line with management expectations. The Company has seen notable evidence of progress with both an acceleration of revenues, and narrowing of adjusted EBITDA* loss.
Based on unaudited numbers for the first half of the year:
· Net Revenue has increased by 38% year-on-year from £7.0m to £9.7m
· Adjusted EBITDA* loss has reduced by 84% year-on-year from £5.2m to £0.8m.
· At the end of June 2016, the Group had £8.4 million in cash
*excludes exceptional items, restructuring costs and share-based payments but includes gains and losses on re-translation of foreign currency monetary balances. For the first half of the year these amounted to a £0.8m gain (2015 £0.2m loss).
Ashley MacKenzie, CEO of Brave Bison Group Plc, said: "We are delivering well against our plan and have a growing sense of confidence about the future. The business is undergoing a transformation from a third-party technology provider to a social video broadcaster. Following our recent re-launch as Brave Bison, we are now being recognised as a disruptive global digital media company with intellectual property ownership, social talent and scaled distribution on social platforms as core pillars. This makes Brave Bison an attractive partner for global brands to capture the value of online video."
The Board notes the volatility in the value of the British pound, following the result of the UK referendum on membership of the EU. With approximately 75 per cent of the Group's revenues generated in other currencies the Group's reported results stand to benefit on translation from a weaker British pound. All gains and losses are recognised in profit or loss on translation at the reporting date.
ENDS
For further information please contact:
Brave Bison Group plc Ashley MacKenzie (CEO) / Kevin Deeley (CFO)
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via FTI Consulting |
Stockdale Securities Limited Richard Johnson / Andy Crossley
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Tel: 020 7601 6100 |
FTI Consulting Rob Mindell / Antonia Gray
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Tel: 020 3727 1000 |
About Brave Bison plc (formerly Rightster Group plc)
Brave Bison is an independent Digital Media & Social Video Broadcaster, proudly working with some of the biggest brands and most followed YouTube and Facebook social creator talent in the world. Clients include Coca Cola, P&G, Microsoft, 20th Century Fox, CNBC, Universal Pictures and Google.
Brave Bison is the largest multi-platform video network in the world outside North America, with headquarters in London, and offices in 7 countries around the world, including France, Germany, Spain, Singapore, India, Australia and the US.
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.
www.bravebison.io
Brave Bison Limited (incorporated in England with company number 07634543) has its registered office at 1 Neal Street London WC2H 9QL. Brave Bison Limited is a subsidiary of Brave Bison Group plc (incorporated in England and Wales with company number 08754680).