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.”
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