Brave Bison anticipating bumper end to financial year
Independent digital media and social video broadcaster Brave Bison Group updated the market on its trading for the year to 31 December on Thursday, saying it 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.
The AIM-traded company said it was continuing 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 had resulted in a “substantially reduced” expected EBITDA loss for 2017.
At 30 November, the Group had £4.1m in cash and said it remained funded, on current expectations, to reach profitability.
“The group expects to announce full year 2017 results towards the end of March,” the board said in a statement.