Unaudited half year results for the six months ended 30th June 2016
Brave Bison Group plc (AIM: BBSN), the independent Digital Media & Social Video Broadcaster, today announces its half year results for the six months ended 30 June 2016.
The Group re-branded and changed its name from Rightster Group plc to Brave Bison Group plc on 9 May 2016.
Since the period end on 30 June 2016, the Group continues to trade in line with management expectations.
- Net Revenue of £9.7m (a 38% increase from H1 2015)
- Adjusted EBITDA* loss of £0.8m (a decrease of 84% from H1 2015)
- Loss before Tax of £3.6m (a decrease of 69% from H1 2015)
- Loss per share of 0.56p (a decrease of 89% from H1 2015)
- The Group ended the period with £8.4m of cash.
*excludes exceptional items, restructuring costs and share-based payments but includes gains and losses on re-translation of foreign currency monetary balances.
- Niall Dore resigned as CFO and Director on 20 May 2016
- Kevin Deeley was appointed as CFO and Director on 20 May 2016
- Patrick Walker resigned as non-executive Director on 26 May 2016
Other notable strategic achievements as we grow our brand and social video broadcast businesses:
- Re-launching our "SlashFootball" channel, a multi-platform football digital property owned and operated by Brave Bison, as the cornerstone of our social video football network. The SlashFootball Network has already amassed 9.4m+ followers on Facebook and 4.1m+ subscribers on YouTube.
- Launching Brave Talent, our international social talent management business with recognised stars like Callux, Joe Tasker, Anto Sharp, and Kiana Jones with a combined social reach of 30m.
- Hiring Will Pyne, former Founder and Creative Director of award winning social agency Holler, as Chief Creative Officer.
- Continuing to re-orientate the business towards advertising revenues, which increased to 93% of total revenue in the first half, driven by multiple large brand deals including Havas, Ford and P&G.
Post Period Update
- On 21 July 2016 the company issued 1,942,898 new ordinary shares of 0.1 pence each in the Company (the "New Shares"), pursuant to the exercise of options.
Ashley MacKenzie (CEO) commented:
"I am thoroughly pleased with the pace of progress re-orientating the business. We are undergoing a transformation from a third party technology provider to a social video broadcaster, and throughout that transformation have managed to significantly grow revenues, while dramatically reducing our operating costs.
Our primary financial goal remains to achieve profitability. While maintaining close control of our cost base, management will be looking to build on this strong growth momentum throughout the second half of the year. Significant revenue opportunities will be driven by maintaining competitive advantage in a fast-paced online video industry - combining our data-informed scientific approach to audience management for existing video content, with the remarkable artistic talent we have in our business for new content creation."
For further information, contact:
Brave Bison Group plc
Kevin Deeley (Chief Operating and Finance Officer)
Richard Johnson / Andy Crossley / Ed Thomas
Tel: 020 7601 6100
FTI Consulting (PR adviser to Brave Bison)
Rob Mindell / Charles Palmer
Tel: 020 3727 1000