Brave Bison projects first breakeven year since floating on AIM

5th Dec 2018 09:20

(Sharecast News) - Social video company Brave Bison has forecast double-digit revenue growth in excess of expectations as the group turns EBITDA-positive for the first time since its admission to AIM back in 2013.Brave Bison, which set off on a mission of making the company profitable back in 2017, said its improved results were principally driven by increased advertising and distribution revenues.Being EBITDA positive does not mean that the company is profitable on a statutory basis, but as of 30 November, Brave Bison had £5.1m in cash and equivalents on hand with no overdraft or other borrowings. The group expects to be cash positive despite the heavy investment made into strategic initiatives.The AIM-listed firm used its cash reserves to invest in organic growth during the current financial year - a strategy which led to it become the most viewed network and creator page on Facebook during October.Chief executive Claire Hungate, 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."As of 0920 GMT, Brave Bison shares had shot up 17.06% to 1.99p.