After a few years of instability, B2B media businesshas found a winning strategy in embracing diversity. 2018 saw the group’s total revenue jump to £2.7million, up from £1million in 2017.
This growth is a reflection of Bonhill’s organic growth strategy, with sales up 42% on a like for like basis, which is focused on launching new brands. Star among these is DiversityQ.com, which supports organisations in creating a diverse workforce and maximising the benefits of this diversity into increased productivity.
Bonhill’s emphasis on diversity as a growth strategy stems from more than their company values.
Research shows that companies in the top quartile for gender diversity on their executive teams are 21% more likely to have above-average profitability than companies in the 4th quartile. Moreover, companies in top quartiles for ethnic/cultural diversity are 33% more likely to outperform their less diverse counterparts on profitability.
Bonhill themselves are a testament to this trend. Their growth was driven particularly by the success of their live events which constituted 73% of revenue and grew by 72% from 2017 to £1.9m.
These events included Bonhill’s Women in IT Awards, one of the largest tech diversity events in the world attended by over 1,000 business and IT leaders, and the Women in Finance series.
The success of these events pushed Bonhill to launch them in the United States as well this year, helping the brand achieve one of its central company goals: expand their international footprint.
The substantial growth Bonhill has enjoyed thanks to this new strategy has not gone unnoticed. The company recently successfully raised £19.2 million to provide “a strong financial base form which to execute its new growth strategy.”
Carving out a role as leaders in areas like women in IT and finance is strategic move for the company as the sector continues to garner more attention, funding, and influence in the larger world of finance.
All the more reason to keep an eye on the transforming media company is the fact that growth stocks tend to perform better than value stock in the late economic cycle.
For more news and updates on Bonhill:
As part of the listing, the company raised £523,500 before expenses through a share placing. It has also issued warrants that if they were all exercised would raise a further £1.3 million.
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