13th May 2015 10:49
LONDON (Alliance News) - Centaur Media PLC Wednesday said it is encouraged by its outlook for 2015 and anticipates meeting current market expectations for the full year.
According to broker forecasts provided by Morningstar, N+1 Singer expects Centaur to post a pretax profit of GBP8.8 million for its current financial year, whilst Numis expects it to post a pretax profit of GBP10.1 million, and Westhouse Securities a pretax profit of GBP10.0 million.
In a statement at the company's annual general meeting, Centaur said revenues, adjusted for disposals, event phasing and discontinued events, rose 3% in the first four months of 2015. It expects higher rates of growth for the remainder of the year.
Digital paid-for content revenues continued to grow well. Digital advertising revenues returned to growth, helping drive total advertising revenues up 2% in the period, a reversal of the 9% decline it saw in 2014.
For its first half, Centaur expects to post adjusted operating margins slightly ahead of expectations, despite moving two awards events from June.
Shares in Centaur Media are trading up 4.0% at 78.00 pence late Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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