Slipping revenue and breaking-even: Covid-19 knocks media group Bonhill
Covid-19 has continued to knock media group Bonhill hard, as the company reports slipping revenue, operating losses and breakeven earnings.
The London-listed company had its revenue dwindle eight per cent to £16.4m in the year to 31 December, while it swallowed an operating loss of £8.3m.
The business-to-business focused media firm also reported a breakeven earnings before interested, tax, depreciation and amortisation (EBITDA), following a £400,000 loss in 2020.
The group has undergone a rebranding over the 12-month period, in a bid to become a global financial services provider.
The pivot into asset managing and financial advisory is set to continue this year, the company said in a statement today, as it seeks to rebalance its revenue.
Interim executive chairman Jonathan Glasspool called 2021 a “challenging year” for Bonhill, citing the sustained impacts of the pandemic on the business and the wider global economy.