Centaur Media PLC - Interim Management Statement
Centaur Media PLC
14 May 2009
INTERIM
MANAGEMENT STATEMENT
Centaur Media plc, the specialist business publishing and information
group, today issues an interim management statement for the period
from 1 January 2009 to the date of this announcement, incorporating a
trading update for the four month period to 30 April 2009.
Overall trading review for the four month period ended 30 April 2009
The trading results for the four months to the end of April 2009 are
in line with our expectations. While conditions in our served markets
remain very challenging the effects of this period of weaker trading
continue to be partially offset by our extensive cost reduction
programme.
There have been no material changes to trading conditions in the
period since 30 April 2009.
Bank facilities re-financed
New terms have been agreed with Royal Bank of Scotland ("RBS") for a
revolving credit facility of up to £5m maturing in May 2012. This
replaces the existing facility with RBS ahead of its expiry in
September 2009.
This new facility is expected to provide adequate headroom for the
Group's working capital requirements over the next three financial
years.
Current trading and outlook
The Board expects the Group's results for the year ending 30 June
2009 to be in line with its expectations.
While the current outlook for our served markets remains uncertain
the Board is confident that the Group has established strong
foundations for future growth and margin recovery through a
substantial cost reduction programme and continued investment in our
web platform.
These factors combine with the existing core strengths of the Group,
including our portfolio of market leading brands, organic growth
culture and strong balance sheet and as a result the Group is well
positioned to take advantage of a recovery in our served markets.
Other than as detailed above in this interim management statement,
there have been no material events or transactions in the period from
1 January 2009 to 13May 2009.
Enquiries:
Centaur Media plc
Geoff Wilmot, CEO Tel: 020 7970 4000
Mike Lally, GFD
Kreab Gavin Anderson
Robert Speed Tel: 020 7554 1400
Anthony Hughes
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