Bonhill Group shares dip on earnings warning
By Ian Walker
Bonhill Group PLC shares fell 20% on Friday after the company warned it would miss out on earnings and spot market expectations this year, citing continued weakness in digital sales in the United States.
The London-listed business news, events and analytics company said it now plans to report revenue for the year ended Dec.31 of £ 16.5million (£ 22million). dollars) with group profit before interest, taxes, depreciation and amortization of £ 800,000, and year-end cash of £ 1.0 million.
The earnings were estimated at £ 18.7million, taken from FactSet and based on two analysts; forecasts.
Shares at 1:14 p.m. GMT were down 2.25 pence to 8.75 pence.
The company said that despite a few new initiatives and the focus on the broader digital, multimedia and personalized offering in the United States, its U.S. InvestmentNews business saw no improvement in the fourth quarter and has not seen any improvement. will therefore not reach the group’s annual turnover. expectations.
Bonhill said InvestmentNews delayed launching its investment strategy until the first quarter of next year. Its launch was scheduled for the fourth quarter of this year.
He also said that InvestmentNews chief executive Christine Shaw recently left the company and would be replaced by John French, president of Bonhill Group Inc.
“While it is extremely disappointing not to see trade in the United States meeting our expectations in the last quarter of this year, we are seeing good interest in our new offerings and, under the leadership of John French, we let’s make the changes necessary to ensure we deliver better results in 2022, â€said Chief Executive Officer Simon Stilwell.
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