Bonhams released its 2013 financial information today:
Financial Highlights
- Revenues £127m
- Gross Profit £91m
- Adjusted Operating Profit £25m*
- Net cash generated from operating activities: £26m
- Balance sheet strengthened further through £18m buyback of preferred ordinary shares
*Before exceptional, non-recurring expenses
Operational Highlights
- New £30m flagship headquarters on New Bond Street, London completed ahead of schedule; project fully funded through cash flow
- Further significant investment in major New York and Hong Kong facilities and salerooms this year
- More than 25% of bids now made through Bonhams’ proprietary on-line bidding system
- World record prices achieved in Old Master Paintings, Jewellery, Russian Art, Indian and Islamic Art, Chinese Art, Contemporary African Art and Collectors’ Cars departments