Brave Bison on Friday published a trading update for 2016, and described the outlook for 2017. The 2016 outturn was ahead of our expectations in terms of revenue, materially in line with our EBITDA loss forecast, and with a far better-than-expected cash balance. The RNS highlights slowing growth in H2, the loss of two contracts, and a decision to migrate the model away from low-margin revenues. We materially downgrade expectations for 2017E. We downgrade our Target Price from 9p to 4p but ret
20 Feb 2017
Robust 2016 trading offset by 2017 outlook
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Robust 2016 trading offset by 2017 outlook
Brave Bison Group Plc (BBSN:LON) | 2.6 0 1.0% | Mkt Cap: 33.2m
- Published:
20 Feb 2017 -
Author:
Gareth Evans -
Pages:
3
Brave Bison on Friday published a trading update for 2016, and described the outlook for 2017. The 2016 outturn was ahead of our expectations in terms of revenue, materially in line with our EBITDA loss forecast, and with a far better-than-expected cash balance. The RNS highlights slowing growth in H2, the loss of two contracts, and a decision to migrate the model away from low-margin revenues. We materially downgrade expectations for 2017E. We downgrade our Target Price from 9p to 4p but ret