TIDMBONH
RNS Number : 6977P
Bonhill Group PLC
22 June 2022
22 June 2022
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
Business Disposal & Trading Update
Bonhill Group plc (AIM: BONH), a leading B2B media business
specialising in three key areas: Business Information, Events and
Data & Analytics, announces the following update ahead of its
Annual General Meeting due to be held later today:
Headlines
* First half ("H1 2022") trading update; and
* The planned disposal of the Group's Business
Solutions & Governance ("BSG") division to allow the
Group to focus on its core offering within the
financial services sector.
Trading Update
The Board expects Group revenues in H1 2022 to be up 9% on the
same period last year although the return to live events (25 live
events in H1 2022 vs. zero in the same period last year) does
create some margin dilution (circa 5% pts) as outlined in the
Company's 2021 Annual Report & Financial Statements.
In H1 2022, the Board expects the Group to report an estimated
EBITDA loss of GBP1.3 million which is consistent with the
comparative period last year; operating cost savings are fully
offset by salary increases, the planned increase in National
Insurance contributions and general inflation, especially in the
UK.
Cash as at 30 June 2022 is expected to be approximately GBP1.0
million inclusive of the net proceeds of the fundraising which was
completed in May 2022 (30 June 2021: GBP1.3 million).
As at 16 June 2022, the Group had secured 58 per cent. of its
revenue target for the year ending 31 December 2022 which is
broadly in line with the position at the same time in 2021.
Business Solutions & Governance
Following the management changes announced on 7 April 2022, the
Board has conducted a review of the Group and its constituent
businesses. As a result, the Board has resolved to dispose of the
Company's BSG division and that the Company should focus purely on
financial services which comprises the Investment News and Last
Word businesses and which represented approximately 85 per cent. of
the Group's audited turnover in the year ended 31 December 2021
("FY 2021").
The BSG division comprises brands, including
SmallBusiness.co.uk, GrowthBusiness.co.uk, Information-Age.com, and
DiversityQ which includes the 'Women in...' events series.
In FY 2021, the BSG division reported revenues of approximately
GBP2.4 million and EBITDA of GBP0.4 million. It currently employs
approximately 20 staff. The division is being made available for
sale in part or whole.
The Group has already received a number of unsolicited
expressions of interest from third parties to acquire the division.
Further announcements will be made as appropriate in due
course.
Patrick Ponsford, Bonhill's Interim Group CEO, commented:
"After a slow start to the year, I'm pleased with the
performance of the Group, which is in line with the Board's
expectations, and look forward to a stronger second half. The
proposed disposal of the Business Solutions & Governance
division will enable us to focus solely on financial services and
play to our strengths."
Jonathan Glasspool, Bonhill's Interim Executive Chairman,
commented :
"We are excited by the opportunities and financial performance
that the new streamlined business presents; a more focused
business; less capital intensive; higher margins and less complex.
We believe that shareholders will see significantly enhanced
returns once the disposal is complete."
For further enquiries please contact:
Bonhill Group plc +44 (0)20 7250 7035
Jonathan Glasspool, Interim Executive Chairman
Shore Capital (Nominated Adviser and Broker) +44 (0)20 7408 4050
Tom Griffiths/David Coaten/Tom Knibbs
About Bonhill Group plc
Bonhill Group plc is a leading, AIM-quoted, B2B media company
providing Business Information, Events and Data & Insight
propositions to Financial Services, Diversity and Technology
business communities in the US, UK, Pan Europe, Middle East and
Asia. Bonhill operates multiple digital platforms, has market
leading media brands, hosts over 100 events per annum, offers a
portfolio of data & analytics propositions and provides a range
of content marketing solutions.
Bonhill operates primarily in the financial services space where
its brands and services are acknowledged as market leaders. It
specialises in enhancing the relationship and flow of information
between the global community of financial services providers and
the advisers who recommend their products. Bonhill was early to
recognise the growing importance of ESG in asset allocation and
fund selection and now owns the leading global platform in this
space, ESG Clarity, serving the adviser community.
Additionally, the business creates content, sales and marketing
opportunities, networking events and lead generation opportunities
for its audiences of entrepreneurs, business owners and managers,
CTOs and technology leaders, asset and wealth managers, and
professional women. Flagship brands include: InvestmentNews, ESG
Clarity, Portfolio Adviser, Fund Selector Asia, What Investment,
SmallBusiness.co.uk, GrowthBusiness.co.uk, Information Age, Women
in... events series and DiversityQ.
For more information visit www.bonhillplc.com .
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