4th Jun 2018 12:21
LONDON (Alliance News) - Big Sofa Technologies Group PLC said Monday its revenue for 2017 increased 72% as the company secured several trading partnerships and forged new client relationships.
The video analytics provider posted revenue of GBP1.3 million up from GBP757,000 year-on-year. Pretax loss narrowed to GBP4.1 million from GBP4.4 million in 2016.
In 2017, the company was appointed global partner to Procter & Gamble Co and created relationships with Nestlé SA, McDonald's and other blue-chip multinationals.
"Video is gradually emerging as a key medium for capturing real human behaviour in the multi-billion dollar consumer research industry. This is evident in the work we are already undertaking for household brands and leading global research organisations," Chief Executive Officer Simon Lidington said.
"We have made a strong start to the year by continuing to cultivate relationships with large multinational clients and by securing a strategically important investment in the business."
Big Sofa shares were trading down 0.6% at 13.67 pence each.
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