Interim Management Statement

RNS Number : 8630S

Centaur Media PLC

13 November 2013

 



13 November 2013

Centaur Media Plc

Interim Management Statement

Centaur Media plc (LSE: CAU, the "Group"), the business information, events and marketing services group, today issues an interim management statement for the period from 1 July 2013, based on results for the four month period to 31 October 2013, with commentary on trading up to 12 November 2013.

Current trading

Revenues increased by 6% in the period, reflecting the impact of new event launches and continuing good growth across the digital and paid for content products. Digital and events revenues accounted for 71% (2012: 68%) of total revenues, with print revenues now accounting for only 28% of total revenues (2012: 31%). EBITDA margins at this stage reflect the impact of new product development across the Marketing, Professional and Financial divisions. Overall, trading across the Group remains in line with the Board's expectations.

Business review

The Marketing segment has seen good growth in events and paid for content revenues, with invoiced subscription revenues growing by 30% across both Econsultancy and Profile.  The Festival of Marketing and Celebrity Intelligence both launched successfully. Advertising revenues across this segment continue to decline, albeit at a slower rate than in the previous financial year.

The Professional segment has also seen good growth in events revenues with the launch of The Meetings Show in July 2013 and The Lawyer Management Awards in September. With a sharper focus on the Group's markets and customers, early signs of collaboration across Perfect Information, The Lawyer and VB Research are encouraging.

Across the Financial and Consumer segments, Money Marketing and Mortgage Strategy advertising revenues grew strongly, reversing the rapid decline in the last financial year.  Platforum continues to grow well. Consumer revenues were in line with the same period last year, with good growth in print and digital revenues being offset by weaker events revenues.

As previously announced, Andria Vidler became Chief Executive on 4 November 2013.

Balance sheet

The ratio of net debt to EBITDA at 31 October 2013 was 2.3 times, and with earnings and cash flows continuing to be heavily weighted towards the period from January to June, the Group expects leverage to reduce by 30 June 2014.  Deferred revenues at 31 October 2013 were £15m, 15% ahead of the same period last year.

The Group expects to publish its half year results for the six months to 31 December 2013 during the week commencing 17 February 2014.

Andria Vidler, Chief Executive, commented:

"Our revenue profile continues to improve and I am encouraged by the many opportunities to grow our digital, subscriptions and events businesses across the Group."

Enquiries

Centaur Media plc	[phone]
Andria Vidler, Chief Executive Mark Kerswell, Finance Director
College Hill	[phone]
Adrian Duffield / Kay Larsen

 

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