ICSM Business News: publisher is reported to be considering ‘putting itself up for sale’ as business contracts

ICSM Business News: publisher is reported to be considering ‘putting itself up for sale’ as business contracts

This Is Money’s Camilla Canocchi has reported on concerns over the fate of financial publisher Bonhill who have issued a profits warning and taken on a £800,000 loan.

The publisher of magazines, data analytics and events for the financial sector has seen its shares tumble 29% this week as speculation mounts over its future. Camilla Canocchi reported: “The London-based group now forecasts full-year revenues to be £15million, compared to previous guidance of £15.5million, and losses of £350,000, instead of £300,000 profit. In June, the group blamed 'market turbulence' for a weakening in traditional media and content projects, as clients 'held off on discretionary marketing spend'.”

Bonhill has seen its value drop by 64% in the last 12 months prompting it to take out a £800,000 loan facility to the tie it over until next year. ICSM understands the publisher is looking for a buyer although so far no one has put in a bid.

ICSM’s Ian Carrotte said the publishing business had been hit by the down turn in the economy like other sectors and it was no surprise to see problems. He said the business appears to have acted early in negotiating a loan to give it a chance of finding a buyer.

“Many firms that are struggling leave it too late,” he said, “as soon as things look bleak it is important to act as often early intervention can result in the business finding a buy or a merger with a rival and not hitting the buffers further down the line.”

The Mail’s This Is Money reported the £800,000 loan was there if needed and may not be used until 2023.

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