27 May 2021 07:00
27 May 2021
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
AGM Statement
Bonhill Group Plc (AIM: BONH), a leading B2B media business specialising in three key areas: Business Information, Events and Data & Analytics, is hosting its Annual General Meeting ("AGM") today in line with the arrangements announced on 27 April 2021.
The Company is pleased to announce that trading in the year to date is in line with market expectations for the year ending 31 December 2021.
The Company announces the following update:
· | H1 revenue is currently expected to be slightly lower than H1 2020 as continued COVID-restrictions have resulted in an absence of any live events in 2021. Revenue is still in line with the Board's expectations. |
· | H1 PBT loss is expected to be significantly reduced vs H1 2020, reflecting the cost saving initiatives taken in 2020 and having no adjusting items in 2021. |
· | ESG related activity continues to dominate with continued growth of ESG Clarity globally and the launch of the inaugural Global ESG Summit, in partnership with the United Nations Capital Development Fund. It has over 1,000 registered attendees and will be streamed live across Asia, UK, Europe and the US. |
· | A small number of live events are planned for H2 2021 in the UK and US reflecting the easing of restrictions and both sponsor and delegate support. |
· | Continued development of existing brands into new territories and the expansion of our successful and high growth content marketing solutions business. |
· | Successful completion of the head office move will result in significant cash benefits in H2 2021 and in 2022. |
Neil Sachdev, Non-Executive Chairman of Bonhill, commented:
"We have seen an encouraging start to the year despite the ongoing challenges of the COVID-19 pandemic, demonstrating the continued resilience of our business following the swift and decisive action taken last year. Our performance in the absence of live events in the first half is testament to our new digital-first strategy and we continue to evolve to meet the needs of the market. It has been an exciting start to the year with the launch of our inaugural Global ESG Summit, in partnership with the UN, as we continue to build our scale and reach, and we look forward to hosting similar future events. Following the strong start, we remain confident of meeting market expectations for the year."
Simon Stilwell, Chief Executive of Bonhill, commented:
"On behalf of the Board, I would like to thank Neil who steps down from the Board at the conclusion of the AGM for his time, effort and commitment to Bonhill over the last four years. His support, inspiration and counsel, particularly since the acquisition of Investment News in August 2018, have been invaluable. During this time, we have all benefitted from his broad business experience and leadership and Neil has been personally engaged with our employees and the business throughout. He leaves the Bonhill Group with our gratitude and very best wishes for the future."
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For further enquiries please contact:
Bonhill Group plc | +44 (0)20 7250 7035 |
Simon Stilwell, Chief Executive 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 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, Business Solutions and Governance business communities in 25 countries. Bonhill operates fifteen information websites, publishes four regular print titles, hosts 120 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, Portfolio Adviser, Fund Selector Asia, What Investment, SmallBusiness.co.uk, GrowthBusiness.co.uk, Information Age, Women in… events series, ESG Clarity and DiversityQ.
For more information visit www.bonhillplc.com