Media company Bonhill Group is lining up a potential sale of the business after announcing that it now expects to make a £350,000 loss this year.
The company, which produces news magazines and events aimed at financial advisors and fund managers, said its board has decided to undertake a strategic review which could result in the sale of the group as a whole, or a sale of some of its parts.
In a trading update, Bonhill said that having expected revenue of around £15.5 million and EBITDA of £300,00 for the year ending 31 December 2022, it now expects to make £15 million of revenue and a loss of approximately £350,000.
It blamed “market turbulence”, which it said had caused companies to cut back on “discretionary marketing spend”. Its digital revenues, particularly in the US, have been worse than the company expected and its events business, which was expected to prop up its overall revenue, has not performed strongly enough.
The company has also agreed an £800,000 standby loan from its largest shareholder, Rockwood Strategic, to help it stay afloat.
