StockMarketWire.com - Social video company Brave Bison has warned on profit. It announced that, for the year ending 31 December 2019, revenues are expected to be approximately £16m (2018: £21m), with an adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) loss of £0.7m (2018: £0.8m gain).

These results are significantly below market expectations, driven by the continued impact of adapting to Facebook's new publishing policies announced earlier this year and a second half shortfall in the group's APAC branded content division.

As at 31 October 2019, the group had £3.8m in cash and cash equivalents and no overdraft or other borrowings. The group said it remained funded, on current expectations, to reach profitability. It plans to report its full year results for 2019 on 1 April 2020.

Kate Burns, chief executive officer, Brave Bison, commented: 'Changes in Facebook's publisher policy has forced us to build a stronger content creation team and invest in more original production across platforms.

'These are ultimately positive business decisions as we now own more content IP than ever before. As we move from this investment phase, we will analyse the effectiveness of our publishing strategy based on audience engagement and profitability.'




Story provided by StockMarketWire.com