Brave Bison Group PLC Trading Update and Notice of Results (1477L)
11 January 2021 - 6:00PM
UK Regulatory
TIDMBBSN
RNS Number : 1477L
Brave Bison Group PLC
11 January 2021
11 January 2021
Brave Bison Group plc
("Brave Bison", the "Company" and together with its subsidiaries
the "Group")
Trading Update and Notice of Results
Brave Bison, the social media and marketing group, is pleased to
announce that trading in the second half of 2020 has been ahead of
both management expectations and the corresponding period from the
prior year.
These H2 2020 results mark encouraging progress for Brave Bison,
although the Board continues to manage costs carefully in what
remains an uncertain economic environment.
For the six-month period to 31 December 2020 (unaudited):
-- Adjusted EBITDA (before exceptional items and share based
payments)(1) is expected to be not less than positive GBP500k,
compared to negative GBP658k for H2 2019 and ahead of the
expectation, reported in the Company's Interim Results announced in
July 2020, that the Company would become EBITDA breakeven on the
same basis during H2 2020.
-- Net cash has increased by GBP634k from GBP2.1m in June 2020
to GBP2.7m as at 31 December 2020.
-- Revenue is expected to be not less than GBP7.2m, an increase of 7% on H2 2019.
-- Gross profit is expected to be not less than GBP2.1m, an
increase of 18% compared to the same period last year (H2 2019:
GBP1.8m).
-- Monthly staff costs (before bonuses and restructuring) have
reduced by 50% from the start of 2020.
-- Improved performance has been driven by a combination of new
client wins (including Vodafone, BBC, Pernod Ricard, Suntory),
strong revenue growth across our Snap and YouTube networks, as well
as a much-reduced operating cost base.
The Company announces that it expects to announce its full-year
audited results for the year ending 31 December 2020 in April 2021.
The Company expects to report full year 2020 revenue of not less
than GBP12.7m, gross profit of not less than GBP3.9m and EBITDA
(before exceptional items and share based payments) of not less
than GBP0.1m.
Oliver Green, Executive Chairman, commented:
"Brave Bison is in a stronger position heading into 2021 than it
has been in previous years. We have won new clients, grown gross
profits in H2 2020 by 18% (compared to the same period last year)
and significantly reduced our operating costs. Our outlook is
cautious given the material uncertainty presented by the fallout
from the pandemic, but our strong balance sheet will allow us to
weather the storm and capitalise on potential opportunities."
This announcement contains inside information as defined in EU
Regulation No. 596/2014.
For further information please contact:
Brave Bison Group plc
Oliver Green, Executive Chairman via Cenkos
Cenkos Securities plc Tel: +44 (0)20 7397 8900
Nominated Adviser & Broker
Nicholas Wells
Ben Jeynes
About Brave Bison
Brave Bison is a new-era media and marketing group that
specialises in social media. Brave Bison combines a leading social
marketing agency and content studio with a media network of over
650 channels and 158m followers. Recent advertising partners
include Panasonic, Vodafone, Uniqlo and BBC. The company is
headquartered in London with additional offices in Singapore.
(1) On a post IFRS 16 basis EBITDA is no longer net of lease
rental payments. H2 2020 Adjusted EBITDA on a pre IFRS 16 basis
(before exceptional items and share based payments, but after lease
rental payments) is expected to be not less than positive GBP200k,
compared to negative GBP797k for H2 2019.
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END
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