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Bonhill warns on profit as civil unrest in Hong Kong hurts performance

Wed, 13th Nov 2019

Bonhill warned on profit as challenging conditions experienced by Last Word Media in the UK and Hong Kong continued to weigh on performance. The company said it now expected earnings (EBITDA) for the year to 31 December 2019 to be approximately £2.5m, materially below market expectations. Its InvestmentNews business returned to more normalised trading patterns, but was still expected to fall short of its target for the year, driven by weaker performance of traditional media. 'The business has had a difficult 2019, which has continued into the final quarter. However the new technology platform and the calibre of the people we have recruited combined with the underlying work in improving our offering puts the group in a stronger position,' Bonhill said. 'This is underpinned by the £1.5m of cost savings already identified and the ongoing savings associated with faster integration give us confidence of a better return in 2020,' it added. At 9:07am: (LON:BONH) Bonhill Group Plc Ord 1p share price was -17p at 36.5p Story provided by StockMarketWire.com

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