Big Sofa forecasts annual revenue to grow 31%

Writer, Stock Market Wire
Monday, December 10, 2018 - 07:27

Video analytics provider Big Sofa said Monday that full-year revenues were expected to grow by 31% to £1.7m amid growing traction with global customers.

With significant investment in Big Sofa's scalable platform having already been made, the company had been able to continue its programme of material annualised cost savings, which was announced on 1 October, Big Sofa said.

The board expected this would reduce the annual cost base compared with the prior year; and, as the full annualised benefits flow through, would reduce the 2019 full year overhead by approximately £1.4m compared to 2017.

'The company is seeing deepening engagement with Ipsos, one of the world's largest market research organisations and a significant shareholder in the company, and growing traction with global customers in a variety of sectors, including food and beverage, consumer packaged goods and healthcare,' Big Sofa said.

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