Bonhill Group increases revenue and introduces maiden dividend
Source - SMW
Bonhill Group announced revenue of £10.7m, up 4.6 times from £1.9m in the comparable period in 2018, and organic Bonhill UK growth of 6.4%.
As at 30 June 2019 cash balance of £5.7m (2018: £0.9m) and net cash of £2.1m (2018: £0.9m), with the maiden dividend payable of 0.28p per share.
Bonhill also commented that trading since release of the Company's pre-close update on 24 July 2019 has been more challenging for Last Word Media in the UK and Hong Kong while Investment News has returned to more normal trading patterns.
Steve Stilwell, Chief Executive of Bonhill, commented: "It has been another period of tremendous progress on our transformational journey which began in August 2017. Despite all the disruption and changes, we now begin to see the Group emerge as a strong organisation, able to compete at the highest level with a new technology platform, people and market positioning which provides a solid platform for long term growth."
However, the company also announced that for the year ending 31 December 2019 both revenue and EBITDA will be approximately £1.0 million below market expectations.