Pre-Close Trading Statement
Centaur Media PLC
12 July 2007
12th July 2007
Centaur Media plc
("Centaur" or "the Group")
PRE-CLOSE TRADING STATEMENT
Full year results expected to be at the top end of market expectations
Performance supported by continued organic growth
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Centaur Media plc (notes i & ii), the specialist business publishing and
information company, today issues a pre-close trading update for the year ended
30th June 2007, prior to its preliminary results announcement, scheduled for
21st September 2007.
Overall trading performance review
Results for the year ended 30th June 2007 are anticipated to be at the top end
of market expectations, with the Group achieving further strong growth in
adjusted PBT (note iii). This growth in profits has been driven by another year
of double digit revenue growth, led by strong results in the legal, financial
and construction divisions, a second half improvement in the marketing and
creative divisions and assisted by a positive contribution from acquisitions. We
also anticipate reporting further improvement in EBITDA margins (note iv), in
line with the Board's expectations.
In the year to 30th June 2007, total advertising revenues are expected to have
increased by about 15% compared with the prior year, reflecting a positive
second half performance across most market sectors. The principal sources of
this growth were in magazine display advertising and in online advertising.
Revenues from exhibitions, conferences and other events are expected to show
full year growth in the order of 8%, recovering strongly in the second half. In
particular, the Group has experienced strong growth in revenues from
meetings-based events, with established exhibitions and conferences also
delivering improved results.
The Group has continued to achieve a high level of cash conversion and net cash
balances at the end of June were just under £9m.
Current trading and outlook
The Board believes that its strategy of building and acquiring strong
multi-platform brands serving niche business communities will enable the Group
to make further good progress in the new financial year. The current outlook for
each of our served markets is positive for the year ahead. The Group also has a
healthy pipeline of new products to support future growth. As a result, the
Board is confident of a further positive performance for the Group for the year
ending 30th June 2008.
Enquiries:
Centaur Media plc Geoff Wilmot Tel: 020 7970 4000
Mike Lally
Gavin Anderson & Company Robert Speed Tel: 020 7554 1400
Notes
i. Centaur's product portfolio currently includes 10 weekly
or fortnightly magazines, 21 other magazines, over 20 online products or
services, 25 awards or other sponsored events, 20 exhibitions and 80
conferences.
ii. Centaur reports its results within 5 distinct business
sector segments, namely Marketing and Creative, Legal and Financial,
Engineering and Construction, Perfect Information and Other. The first 3
segments comprise principally the following vertical business communities
in which Centaur publishes market-leading magazine titles: Marketing
Services, Creative Services, New Media, Retail Financial Products, Legal
Services, Engineering, Private Homebuilding. Centaur also enjoys strong
positions in a number of other specialist communities, namely HR,
Construction, Antique Rugs and Textiles, Logistics, Recruitment and
Public/Private Finance. In addition, it serves the Business Travel
community with 3 leading trade shows in the UK and overseas and an
associated web service.
iii. Adjusted PBT is Profit Before Tax, excluding the impact of amortisation of
intangibles and of exceptional items, including share-based payments.
iv. Centaur's key internal measure of profit is earnings before interest, tax,
depreciation and amortisation and excluding exceptionals (EBITDA).
This information is provided by RNS
The company news service from the London Stock Exchange