Interim results for the six months ended 31 June 2018

Brave Bison Group plc (AIM: BBSN), the social video company, today announces its unaudited interim results for the six months ended 30 June 2018.

Financial Highlights

  • Net Revenue of £9.3 million for the period, at an increased gross profit margin of 32% (1H 2017: £10.5 million* at 28%). Growth driven by higher margin platform advertising
  • Achieved Adjusted EBITDA of £79,000 for the period (1H 2017 Adjusted EBITDA of £64,000)
  • Cash balance at 30 June 2018 of £4.2 million
    *revenues restated as a result of the adoption of IFRS 15 “Revenues from Contracts with Customers”, see Note 2

Operational Highlights 

  • The fourth biggest media publisher in the world over the last quarter for views, according to Tubular Labs, based on average position on its global leader board. Brave Bison channels averaged 4.5 billion views a month during this period (April-June 2018)
  • Expanded APAC business into South Korea and Indonesia, as well as a new partnership with video marketplace, UNRULY
  • New strategic partnerships with global information technology and peripherals producer and Golf’s European Tour
  • Kate Burns appointed as Non-Executive Director to strengthen the Board’s digital media experience
  • Announcement of Perk and Mutha, two new editorialised multi-platform channels to be launched in August 2018. Mutha’s first project will be working with the United Nations Environment Programme

Claire Hungate, Chief Executive Officer, commented:
"When I took over the role as CEO of Brave Bison almost 10 months ago I said I could see 'green shoots' of opportunity after a period of upheaval. The business required focus and nurturing in a fast changing, highly competitive and fragmented market. These half year results show growth and consolidation as we begin to see the benefits of our new direction powered by strategy, origination and distribution. We've streamlined the business in preparation for strategic investment to deliver future growth, and we will continue to see delivery on this investment as we head into 2019.”

 

For the full Half-Year Report for 2018, please click here.

For further information, contact:

Brave Bison Group plc
Claire Hungate, Chief Executive Officer via Redleaf Communications

Allenby Capital Limited
Virginia Bull / Jeremy Porter
Tel: 020 3328 5656

Redleaf Communications 
Elizabeth Cowell
Tel: 020 3757 6880