Brave Bison Group PLC (LON:BBSN) expects to deliver positive annual earnings after saying trading during 2018 had been ahead of its expectations, boosted by increased advertising and distribution revenues.
The digital social video firm on Wednesday said it would deliver double-digit percentage revenue growth for 2018 and that full-year adjusted earnings (EBITDA) were expected to be positive for the first time since the group was admitted to AIM in 2013.
READ: Brave Bison to post its first profit this year since coming to market
“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,' Claire Hungate, Brave Bison’s CEO said in a statement.
“Our APAC operation continues to demonstrate creative ideation, execution and delivery, winning them repeat business and retained relationships with major household brands,” she added.
Brave Bison said going forward, it would focus on growing its owned and operated portfolio of multi-platform channel brands and push its 'strategic partnerships' model.
The company, which works with organisations to help them build and engage audiences through the use of media, also intends to license its owned intellectual property to third parties and grow its APAC distribution business.
Brave Bison shares were 8.8% up at 1.85p in mid-afternoon trade.