Big Sofa Technologies Group PLC – Trading Update

Big Sofa Technologies Group PLC – Trading Update

Big Sofa Technologies (AIM:BST), an international video analytics provider to the consumer insight industry, announces that revenues for the 6 months ending 30 June 2019 are anticipated to be in the region of £1.1 million, reflecting growth of approximately 80 per cent. over the same period in 2018.

As previously announced, the Company is seeing deepening engagement with Ipsos, one of the world’s largest market research organisations and a significant shareholder in the Company, growing traction and repeat subscriptions from existing global customers, and new customer acquisition in a diverse range of sectors, including manufacturing, technology and retail.

The benefits of the programme of cost savings which were announced in October last year have continued to have an impact on the Company’s cost base; the revenue growth has been achieved on a materially lower cost base than the comparable period in 2018. The board expects revenues to grow significantly in the second half of its financial year while maintaining a tight focus on cost control.

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