Bonhill down as it warns on performance

AIM-listed B2B media company Bonhill (LON:BONH) saw its share price drop by 13.11% to 32.15p (as of 12:45 GMT) as it said that EBITDA for the full year would be below expectations. Management said that certain contracts had been pushed back to next year and that the integration of recently acquired businesses had dramatically increased exceptional costs.

CEO Simon Stilwell commented: “2019 was a difficult year for the Group with the specific issues in UK fund management and fund flow, changes in senior leadership across the business and the uncertain political situation in Hong Kong all contributing. The outlook in both the UK and US is greatly improved, reflected in the current level of bookings being received, and the changes we have made in personnel aligned to the technology and infrastructure investment give us an altogether clearer outlook for 2020. We have seen a promising start to 2020 with improved client engagement, order flow and an increased level of RFPs across all the businesses. We look forward to harnessing the new technology platform for the benefit of our customers and growth“.