Saturday - 01 November 2014

Bonhams announce revenues of £127m for 2013

24 March 2014Written by Ivan Macquisten

Following last week’s announcement of their global sales totals, Bonhams have now released figures for their 2013 revenues and profits as well.

In the year that they opened their new £30m Bond Street headquarters, the company reported revenues of £127m, gross profits of £91m and operating profits of £25m before exceptional, one-off expenses.

The company also bought back £18m of preferred ordinary shares.

These figures are set against a backdrop of the £30m redevelopment project, which was funded through cash flow rather than loans, as well as plans for further significant investment in major New York and Hong Kong facilities and salerooms this year.

Away from the bricks and mortar, Bonhams revealed that more than 25% of all bids are now made through the company's own online bidding system.

Chairman Robert Brooks said: "2013 was a year where we saw the Bonhams brand establish itself further on the global stage. We have put significant investment behind growing a brand that can compete effectively in the key auction markets of the world. We will continue to invest in people, property and marketing in the future and I fully expect to see Bonhams winning market share in Europe, North America and Asia.

"Our clients choose Bonhams because of the expertise of its people, backed by a brand that is clearly challenging the status quo across the world, and we are very excited by the potential that this business presents."

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