Bonhill’s H1 results reflect a transformational period. Including a six-week contribution from InvestmentNews (IN), revenues increased 164% to £2.7m. Management still expects to become profitable on in-line underlying revenues for 2018E. Our updated forecasts reflect the acquisition completing on 17th August 2018 (vs 1st) and a revised GBP:USD of 1.3 (1.27). Our 2018E EBITDA has also been lowered to reflect further investment in the group. We retain our Buy rating and introduce a
29 Nov 2018
InvestmentNews ahead of schedule
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InvestmentNews ahead of schedule
- Published:
29 Nov 2018 -
Author:
Rachel May -
Pages:
10
Bonhill’s H1 results reflect a transformational period. Including a six-week contribution from InvestmentNews (IN), revenues increased 164% to £2.7m. Management still expects to become profitable on in-line underlying revenues for 2018E. Our updated forecasts reflect the acquisition completing on 17th August 2018 (vs 1st) and a revised GBP:USD of 1.3 (1.27). Our 2018E EBITDA has also been lowered to reflect further investment in the group. We retain our Buy rating and introduce a