Bonhill shares slump as InvestmentNews unit experiences 'challenging' trading
Business-to-business media group Bonhill said trading had been "challenging", with InvestmentNews experiencing three "difficult" months during the first half of 2019.
Bonhill Group
0.66p
16:55 28/07/23
FTSE AIM All-Share
754.69
13:05 26/04/24
Media
11,776.32
13:04 26/04/24
As of 0930 BST, Bonhill shares had slumped 14.69% to 61p.
Bonhill said its Last Word Media unit was trading in excess of its earn-out targets, while its Women in... division continued to grow during the six months ended 30 June, supporting its strategic move into the development of more educational summit and conference activity.
Despite the challenges witnessed at InvestmentNews, the AIM-listed group said necessary remedial action had been taken and in the last two months, the division had returned to trading in line with budgeted performance and it now expected to see "continued growth" in sales in 2019, albeit with "a different mix".
Looking forward, the group reiterated that full-year results will be in line with expectations driven by Last Word Media and Women in…., although with "a much greater weighting" towards the second half.