July 2017 •
Brave Bison Group plc (AIM: BBSN), the independent digital media & social video business, today announces its interim year results for the six months ended 30 June 2017. For the full report please click here.
Net Revenue of £6million for the period, at a substantially increased gross profit margin of 48% (1H 2016: 39%), through increased focus on high margin business
Achieved positive Adjusted EBITDA of £64k for the period (1H 2016 negative Adjusted EBITDA of £839k)
Cash balance at end of period of £5.3m
Business momentum has been driven by six figure branded content deals
Investments made in high growth opportunities, including Rebel FC
Costs efficiency measures included the creation of Yellowstone Studios and centralising of operations in two major hubs, London and Singapore.
New CEO Claire Hungate appointed, to commence role in August 2017
Kevin Deeley, Chief Operating and Finance Officer, commented:
“When I agreed to take on the responsibilities of the Chief Executive Officer in January this year, it was with the aim of bringing some stability to this promising, innovative and creative business while a permanent CEO was sought. The financial results for the first half of the year demonstrate that Brave Bison has the potential to deliver strong performance by focussing on high-value activity as a producer and broadcaster of social video. I wish our new CEO Claire Hungate the very best as she takes on the leadership of this exciting business.”