18th Jan 2019 08:25
LONDON (Alliance News) - Media company Bonhill Group PLC said Friday that results for the nine months to the end of 2018 will be ahead of market views due to solid revenue generation from newly acquired InvestmentNews as well as from its UK events business.
InvestmentNews is a publication for financial advisors bought by Bonhill in August 2018. It is estimated to deliver record revenue of around USD19.1 million for calendar year 2018, 14% ahead of 2017. The business is predicted to have generated GBP6.0 million in revenue for Bonhill in the four and a half months since its acquisition.
Bonhill said its UK-based events business generated total sales of GBP500,000 from the launch of three new events and doubled overall sales year-on-year. Sales for the company's flagship event, Women in IT London, which is due to be held on January 30, are 35% ahead of last year's event.
The company's UK media division sales in the recent nine months are expected to be consistent with the corresponding nine-month period.
"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," said Chief Executive Simon Stilwell.
Shares in Bonhill were up 2.9% at 90.00 pence each on Friday morning.
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