15th Jan 2020 10:02
(Alliance News) - Centaur Media PLC on Wednesday said it is progressing on its 'Margin Acceleration Plan 2022' after simplifying its business in 2019.
The London-based business information, events and marketing provider said it expects to report its 2019 results in line with current market expectations.
"2019 was a transformational year for the group during which we completed our disposal programme, resulting in a simpler business focused on the marketing services and legal sectors," said Chief Executive Swag Mukerji.
Moving forward, the company said it now has a "strong" balance sheet and is on track to improve margin in line with its Margin Acceleration Plan 2022, which was launched in September. Under the plan, Centaur is targeting earnings before interest, taxes, depreciation, and amortization margins to improve to at least 20% by 2022.
"Through Margin Acceleration Plan 2022, we will continue to drive profitable revenue growth and create further cost efficiencies," added Mukerji.
Centaur will report its 2019 results on March 18.
The stock was trading 2.8% higher in London on Wednesday at 36.50 pence each.
By Evelina Grecenko; [email protected]
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