18 Jan 2019 07:00
18 January 2019
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
Pre-close trading update
Bonhill Group plc (AIM: BONH), a leading B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight, today announces a trading update for the 9 months ended 31 December 2018.
The Board expects the Company's results for the 9 months ended 31 December 2018 to be ahead of market expectations with Investment News and the UK events business performing well and throughout the period the Company has taken the opportunity to continue to invest in recruiting high quality members of staff to support our future organic growth plans.
InvestmentNews is expected to deliver record revenue of approximately $19.1 million for the calendar year 2018, which is 14 per cent. ahead of the preceding year. All of its business units (print, digital and events) increased their revenues and the business had a strong finish to the year with revenues in the final quarter up 10 per cent. on the prior year period. InvestmentNews is expected to have generated approximately £6.0 million of revenue for the Group in the four and a half months since it was acquired on 17 August 2018.
We have continued to successfully develop our 'Women in..' series with three new events launched in the final quarter of 2018; "Women in IT" in Ireland and San Francisco, and "Women in Finance" in Ireland. The UK based Events business generated total sales of approximately £0.5 million from these new events and has in total doubled sales against the same 9 months last year. Sales for the Group's flagship event, Women in IT London, which is due to be held on 30 January 2019, are 35 per cent. ahead of those for last year's event and we are excited about the potential for this global franchise.
UK media sales saw improved momentum in the final quarter with sales expected to be consistent with those in the corresponding period in the previous year and the recent restructuring of this part of the business gives us greater confidence in its potential going forward.
Simon Stilwell, Chief Executive of Bonhill, commented:
"I am delighted with how well InvestmentNews has been integrated into the Group and it is performing well. There are clear major opportunities to develop the brand further which we will do in the years ahead. We are continuing to invest across the business, particularly in high calibre team members to drive the business ahead and look forward to another year of growth and development with confidence."
For further enquiries please contact:
Bonhill Group plc | +44 (0)20 7250 7035 |
Simon Stilwell, Chief Executive David Brown, Group Finance Director
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Stockdale Securities Limited (Nominated Adviser and Joint Broker) | +44 (0)20 7601 6100 |
Tom Griffiths David Coaten
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Canaccord Genuity Limited (Joint Broker) Bobbie Hilliam Ben Griffiths Georgina McCooke
| +44 (0)20 7523 8000 |
Belvedere Communications (Financial PR) | +44 (0)20 3687 2757 |
John West Kim van Beeck |
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About Bonhill Group plc
Bonhill Group plc is an AIM-quoted leading B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight in three key sectors: Technology, Financial Services and Diversity. Bonhill's ambition is to create content that informs, communities that engage and brands that inspire in order to enable a better business environment for our sponsors and clients.
Flagship titles include: InvestmentNews, SmallBusiness.co.uk, Growth Company Investor, Information Age, GrowthBusiness.co.uk and What Investment. Bonhill is also responsible for a growing portfolio of high-profile events, including The Quoted Company Awards, Women in IT Awards Global Series, Women in Finance Awards Global Series, British Small Business Awards, Women Advisor Summit, Women to Watch, Diversity & Inclusion Summit and Retirement Income Summit, amongst others.
For more information visit www.bonhillplc.com