Trading Statement

RNS Number : 2482F

Centaur Media PLC

11 November 2015

 



11 November 2015

Centaur Media plc

Trading statement

Centaur Media plc (LSE: CAU), the multi-platform content group, is today issuing a trading statement on its operating and financial performance for the nine-months ended 30 September 2015.

Underlying1 revenues, adjusted for the rationalisation of the live events portfolio2 in H1, increased by 4%. Excluding the impact of the H1 live events rationalisation, underlying revenues grew by 2%.

Paid-for content revenues continue to grow well and advertising revenues remain stable, though with some notable weakness in recruitment advertising. Digital revenues grew by 19%. Revenue trends across smaller live events are stabilising and the performance across the exhibitions portfolio continues to be strong, with forward bookings for 2016 events up 29%.

Across the group's core market portfolios, Home Interest and Legal continue to perform well and Financial Services has returned to growth as anticipated. The Marketing portfolio continues to see good growth in digital paid-for content, but its performance overall has been impacted by weaker small live events and recruitment advertising revenues.

The leaner operating structure continues to deliver efficiencies, and while growth in underlying revenues has not been as strong as anticipated, the Board expects to deliver full year adjusted earnings broadly in line with market expectations, with adjusted operating profit margins increasing to 15%. The ratio of net debt to EBITDA at the end of December 2015 is expected to be just above one times.

The group is this afternoon holding a presentation for analysts and investors at the Festival of Marketing Tobacco Dock, 50 Porters Walk, Wapping, London E1W 2SF.

Andria Vidler, Chief Executive, commented:

"The trends across our paid-for content and advertising revenues are encouraging, smaller live events are stabilising, and our digital revenues are growing well. Despite underlying revenue growth overall being weaker than anticipated in 2015, we remain confident in the outlook and opportunity across the business."

Enquiries

Centaur Media Plc

Andria Vidler, Chief Executive Officer                                           020 7970 4000

Mark Kerswell, Group Finance Director

IRFocus                                                                                                                                            

Neville Harris                                                                                         07909 976 044

Note to editors

Centaur Media is an award winning UK-based multi-platform content group that inspires and enables people to excel at what they do, raising the standard for market insight, interaction and impact.

Leading brands include: Econsultancy, Marketing Week, Festival of Marketing, Creative Review, Celebrity Intelligence, Fashion Monitor, Money Marketing, Platforum, The Lawyer, VB Research, Employee Benefits, The Engineer, Subcon, Homebuilding & Renovating, Business Travel Show and The Meetings Show.

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1    Adjusted for the disposal of PI (H1 2014 revenue contribution £2.6m) and Aidex (November 2014 revenue contribution £0.8m).

2    The rationalisation of the live events portfolio reduces reported H1 2014 revenues by £1.3m. 

 

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