Trading Statement

RNS Number : 7684T
Bonhill Group PLC
26 November 2021
 

Bonhill Group plc

("Bonhill", the "Company" or the "Group")

 

Trading statement

 

In its unaudited interim results released on 14 September 2021, Bonhill Group Plc (AIM: BONH), a leading B2B media business specialising in three key areas: Business Information, Events and Data & Analytics,   highlighted the weaker US digital sales in 2021 compared with 2020. Despite some new initiatives being implemented, and a focus on the wider digital, multimedia and custom offering in the US, InvestmentNews, the Company's US business, has not seen a significant improvement in the key fourth quarter ("Q4 2021") in order to meet the Company's full year revenue expectations.

 

InvestmentNews had a planned launch of Investment Strategy in Q4 2021, which will now go live in Q1 2022, and the global ESG Clarity, although live, will not now generate meaningful revenues until 2022. This, combined with some event cancellation, re-formatting of events from live to digital and the postponement of a research project, will result in a reduction in US revenue against the Board's previous expectations.

 

At Group level, both Financial Services and Business Solutions in UK/EMEA are continuing to perform in line with the Board's expectations. The Board now anticipates Group revenue for FY2021 of approximately £16.5m with Group EBITDA of approximately £0.8m and a year-end cash position of approximately £1.0m, being materially below market expectations.

 

The Company announces that Christine Shaw, the CEO of Investment News, has recently left the Group and has been replaced in the short term by the Chairman of Bonhill Group Inc, John French, an experienced leader of US B2B media businesses.

 

Despite the disappointing performance in the US in the key fourth quarter, the Group has seen a strong performance from the remaining territories, including Asia, and after the uncertainty of the return to live events in the autumn, the Company has seen a positive return to its larger event formats. We have seen a marked increase in RFP activity across the business as confidence returns in 2022.

 

Simon Stilwell, Chief Executive Officer of Bonhill, commented:

"Whilst it is extremely disappointing not to see trading in the US meet our expectations in the final quarter of this year, we are seeing good interest in our new offerings and, under John French's leadership, making the necessary changes to ensure that we deliver a better outcome in 2022."

 

 

For further enquiries please contact:

 

Bonhill Group plc

+44 (0)20 7250 7035

Simon Stilwell, Chief Executive Officer

Sarah Thompson, Chief Financial Officer

 

Shore Capital (Nominated Adviser and Joint Broker)

+44 (0)20 7408 4080

Tom Griffiths/David Coaten (Corporate Advisory)

Fiona Conroy (Corporate Broking)

 

Canaccord Genuity Limited (Joint Broker)

Bobbie Hilliam

Adam James

Georgina McCooke

 

+44 (0)20 7523 8000

Houston (PR Adviser) 

Alexander Clelland

+44 (0)20 4529 0549

 

 

About Bonhill Group plc

 

Bonhill Group plc is a leading, AIM-quoted, B2B media company providing Business Insight, Events and Data & Analytics propositions to Financial Services and business communities in 25 countries. Bonhill operates eleven information websites, publishes three regular print titles, hosts 130 events per annum, offers a portfolio of data & analytics propositions and provides a range of content marketing solutions.

The business creates content, sales and marketing opportunities, networking events and transactional opportunities for its audiences of entrepreneurs, business owners and managers, CTOs & technology leaders, asset & wealth managers, and professional women, in addition to its sponsors, advertising clients and customers. Flagship brands include: InvestmentNews, ESG Clarity Portfolio Adviser, Fund Selector Asia, What Investment, SmallBusiness.co.uk, GrowthBusiness.co.uk, Information Age, Women in… events series, and DiversityQ.

 

For more information visit    www.bonhillplc.com    

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTFLFIVLLLRFIL
UK 100

Latest directors dealings