Potential disposal of Home Interest

RNS Number : 8165A

Centaur Media PLC

29 March 2017

 

29 March 2017                                                                                                   

Centaur Media plc                                     

("Centaur" or the "Group")

Creating a more digitally focused B2B business

Potential disposal of Home Interest

The Board of Centaur Media Plc (LSE: CAU), the business to business information, insight and events group, announces that it has commenced a process to explore the sale of its  business to consumer segment, Home Interest.

The Home Interest segment has undergone a significant transformation in the past three years, generating improved returns.  However, Centaur's long term future is as a more digitally focused B2B business.  The Board has therefore decided that now is the appropriate time to consider the sale of the segment with the proceeds to be reinvested towards the corporate objective. Given the progress made under Centaur's ownership, the Board believes that Home Interest is well-placed to achieve continued growth under new ownership.

The Home Interest portfolio consists of three key brands; Homebuilding & Renovating, Period Living and Real Homes, and comprises seven market leading exhibitions, print and digital assets.

Under Centaur's ownership, the Home Interest segment has benefited from considerable investment.  This investment has driven a marked improvement in performance and particularly in Homebuilding & Renovating over the past three years has seen revenue CAGR of 9%. Revenues of Home Interest were  £12.9m in 2016 with proforma EBITDA of £4.9m with exhibitions comprising 50% of revenues.

Livingstone Partners LLP has been appointed as exclusive financial advisor to Centaur in relation to the sale of the segment.

Andria Vidler, CEO of Centaur, commented:

"We believe that Centaur's long term future as a focused B2B media group will generate better returns for Shareholders. Therefore we are exploring the sale of Home Interest, which under Centaur's ownership, has been transformed into a profitable and growing asset.

"We are very proud of what the business has achieved and Home Interest is now strongly positioned to realise its full potential with a new owner."

Enquiries

Centaur Media plc

Andrea Vidler, Chief Executive                                                                 020 7970 4000

Swag Mukerji, Chief Financial Officer

Livingstone Partners LLP

Richard Fetterman, Partner                                                                        020 7484 4739


Patrick Groarke, Partner                                                                              020 7484 4707

Tulchan Communications

James Macey White                                                                                      020  7353 4200

Will Smith

 

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