Brave Bison boasts of best-ever trading year
Brave Bison, the UK-based digital media and social video broadcaster, has announced that its trading performance in 2018 has been ahead of management expectations, thanks to increased advertising and distribution revenues.
While the company, formerly known as Rightster, does not expect to announce its final results for 2018 until 27 March, 2019, it has forecast revenues to deliver double-digit percentage growth year-on-year.
In addition, 2018 Ebitda (earnings before interest, taxes, depreciation and amortisation), is expected to be positive for the first time since the group was admitted to AIM, the secondary London stock exchange, in 2013.
As of 30 November, Brave Bison had £5.1 million ($6.5 million) in cash and cash equivalents and no overdraft or other borrowings. The group said it expects to be "cash-flow positive for the year, despite investment in strategic initiatives."
Claire Hungate, chief executive, Brave Bison, said: "2018 is on track to be a year of real progress, which we expect to be reflected in an improved financial performance when we announce our results. Revenues are growing, our full-year Ebitda will be positive for the first time since the group came to market and we expect to be cash flow positive."
Late last year, Brave Bison won a competitive pitch to remain a partner of the English Football League for two more seasons. It assists English soccer's second-tier with revenue generation through digital opportunities.