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18 Jan 2019 | 10:05

Bonhill performance bolstered by InvestmentNews; expects performance to top expectations

Media Group Bonhill said Friday performance for the nine months through December last year would top market expectations bolstered by the recent acquisition of InvestmentNews, which was expected to deliver record revenue.

'The Board expects the Company's results for the 9 months ended 31 December 2018 to be ahead of market expectations with Investment News and the UK events business performing well,' the company said. InvestmentNews was expected to deliver record revenue of approximately $19.1m for 2018, 14% above the preceding year.

InvestmentNews upbeat performance comes as all of its business units - print, digital and events - increased their revenues and the business had a strong finish to the year with revenues in the final quarter up 10% on the prior year period.

InvestmentNews was expected to generate approximately £6.0m of revenue for the group in the four and a half months since it was acquired on 17 August 2018, the company said.

UK media sales saw improved momentum in the final quarter with sales expected to be consistent with 'those in the corresponding period in the previous year and the recent restructuring of this part of the business gives us greater confidence in its potential going forward,' the company added.

At 10:05am: (LON:BONH) Bonhill Group Plc Ord 1p share price was +3p at 90.5p

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