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Bonhill lowers FY guidance as digital sales soften in Q4

By Iain Gilbert

Date: Friday 14 Jan 2022

Bonhill lowers FY guidance as digital sales soften in Q4

(Sharecast News) - Media agency Bonhill Group lowered full-year revenue and underlying earnings guidance on Friday after digital sales softened in the key fourth quarter of the company's financial year.
For the year ended 31 December, Bonhill now expects approximately £16.4m in revenues, EBITDA of £200,000, and a year-end cash position of £1.4m. Bonhill had previously lowered guidance to £16.5m in revenues, £800,000 of EBITDA, and a year-end cash position of £1.0m.

Bonhill said it had seen further impacts from the Covid-19 Omicron variant, which resulted in unexpected, last-minute reductions in margin for its final events of the year in both the UK and US, as well as reduced bookings in the final part of the year.

EBITDA was also said to have been further reduced by unexpected reductions in customer spending as budgets moved to 2022 and order cancellations.

"The group has seen a strong start to 2022 with bookings for the year currently being £1.0m ahead of the comparable period last year, including significant new business in US digital and strong support for its UK financial services events," said Bonhill.

As of 0915 GMT, Bonhill shares had slumped 12.88% to 7.62p.

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