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Centaur Media half year revenue falls due to "macroeconomic headwinds"

20th Jul 2023 14:02

(Alliance News) - Centaur Media PLC on Thursday said its revenue was down, but profit had increased slightly in its half-year.

In the six months ended June 30, the London-based business information, training and specialist consultancy provider said revenues were down 3.0% to GBP19.3 million from GBP19.8 million the prior year, which were due to "macroeconomic related headwinds".

Pretax profit in its half year was up 80% at GBP1.8 million from GBP1.0 million.

"We are positioning Centaur to deliver targeted connectivity with timely and deeper insight to customers and we continue to develop our learning and consultancy expertise in a market consistently characterised by change," said Chief Executive Officer Swag Mukerji.

Adjusted earnings before interest, tax, depreciation, and amortisation was up 3.0% to GBP3.5 million from GBP3.4 million, alongside an adjusted Ebitda margins of 18%, up from 17% year-on-year. It said this was due to careful cost management.

Net cash on June 30 was down 38% to GBP8.8 million from GBP14.2 million a year earlier.

The company declared an interim dividend of 0.6 pence per share, up 20% from 0.5p the prior year.

"Despite the uncertain macroeconomic environment which has driven a broader sector slowdown and a fall in the advertising market, the resilient performance of our higher quality revenues leads us to expect full-year revenue to be flat year on year," said Centaur.

Shares in Centaur Media were down 1.5% at 45.80 pence in London on Thursday morning.

By Will Neill, Alliance News reporter

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