Mark Allen Group blames ‘troublesome’ Bonhill deal as profit falls in 2024

Company "in good shape" and cash positive despite challenging year.

Magazine covers and websites for several Bonhill publications acquired by Mark Allen Group including Portfolio Adviser and ESG Clarity — Bonhill publications acquired by Mark Allen Group. Picture: Mark Allen Group

B2B publisher Mark Allen Group had a “difficult and challenging” year in 2023/24 which it largely attributed to the performance of a newly acquired financial services division.

The £6.5m purchase of Bonhill Group in February 2023 marked a major move into wealth management and financial services for the expanding business.

But the newly-published Mark Allen Holdings Ltd for the year to 31 March 2024 revealed the Bonhill assets “fell a long way short of profit expectations” in their first year.