26th Nov 2021 14:42
Bonhill Group PLC - London-based business-to-business media - Says it did not see improvement in weak digital US sales in the fourth quarter of 2021. Does not believe it will meet full-year revenue outlook.
Anticipates group revenue for 2021 of approximately GBP16.5 million with group earnings before interest, taxes, depreciation, and amortisation of approximately GBP800,000.
For 2020, revenue was GBP17.8 million, and an Lbitda of GBP1.6 million. In September, Bonhill said it expected Ebitda to reach GBP1.2 million, and revenue to increase by 5%.
Expects year-end cash position of approximately GBP1.0 million, "materially" below market expectations.
Announces Chief Executive Christine Shaw of Investment News left the Group and was replaced short term by the John French, Chair of Bonhill Group Inc.
Affirms it saw strong performance in remaining territories including Asia and positive return to its larger event formats.
Maintains it saw an increase in request for proposal activity across the business and is confident in 2022.
"Whilst it is extremely disappointing not to see trading in the US meet our expectations in the final quarter of this year, we are seeing good interest in our new offerings and, under John French's leadership, making the necessary changes to ensure that we deliver a better outcome in 2022," Chief Executive Simon Stilwell.
Current stock price: 8.64 pence, down 21% on Friday
Year-to-date change: down 21%
By Abby Amoakuh; [email protected]
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