Centaur Media sees profit ahead of forecasts

11th Jul 2013 10:00

Business information and events company Centaur Media said it expects to report profits slightly ahead of market expectations. The UK media company reported revenues up 10% on the previous year, adjusted pre-tax rose 8% while EBITDA margins were maintained at 18%. Underlying revenues are, as outlined in its update in May, expected to be 3% lower than in the previous year. Net debt at June 30th has reduced as expected to £19.5m. Centaur said it continues to make good progress in rebalancing revenues in favour of digital, paid for content and events. Digital and events revenues now account for 34% and 36% respectively of group revenues, with both revenue types growing on a reported basis by around 27% compared to last year. Paid for content revenues now account for 28% of group revenues compared to 24% last year. Chief Executive Mark Kerswell commented: "We are pleased to be able to report good growth in profitability and strong progress in developing attractive revenue streams in digital, paid for content and events." "With renewed vigour and enthusiasm across the group, improved stability, a sharper focus on our markets and customers and an encouraging pipeline of new digital platforms and event launches, we are increasingly confident that the outlook for 2014 is positive." CJ