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Brave Bison expects to swing to positive earnings in H2; outlook remains cautious
StockMarketWire.com
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Social media and marketing group Brave Bison said expects to swing to positive adjusted earnings amid better-than-expected second-half performance, though remained cautious on its outlook amid uncertainty from the pandemic impact.
The company expects to report full year 2020 revenue of not less than £12.7 million, gross profit of not less than £3.9m and adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA of not less than £0.1 million.
The company said second half performance of 2020 had been ahead of both management expectations and the corresponding period from the prior year.
For the six-month period to 31 December 2020, adjusted EBITDA was expected to be not less than positive £500,000, compared to negative £658,000 for H2 2019.
Adjusted EBITDA was also 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.
Revenue was expected to be not less than £7.2 million, an increase of 7% on H2 2019.
Improved performance had been driven by a combination of 'new client wins, strong revenue growth across our Snap and YouTube networks, as well as a much-reduced operating cost base,' the company said.
'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,' it added.
At 8:22am: (LON:BBSN) Brave Bison Group Plc share price was 0p at 1p
Story provided by StockMarketWire.com
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