17th Mar 2016 08:35
LONDON (Alliance News) - Content and events company Centaur Media PLC on Thursday said it swung to a loss in 2015 due to booking an impairment charge on its Professional division.
Centaur said it made a pretax loss of GBP5.6 million, swung from an GBP14.2 million profit in 2014, as it booked an GBP11.9 million goodwill impairment charge on its Professional arm, due to weaker trends in its human resources and engineering segments and weaker print and advertising trends.
Revenue fell to GBP70.5 million from GBP72.8 million, hit by revenue declines for its training, awards and other smaller event formats, but offset by solid performances for other exhibitions, plus a decent paid-for content performance.
The group will pay a final dividend of 1.5 pence per share, compared to 1.3p a year earlier, meaning its total dividend will be flat at 3.0p.
Centaur said it had made an encouraging start to 2016, with revenue growth and margins on target. The group said it remains confident cash conversion rates will stabilise in 2016, but said it expects more revenue growth and margin expansion to emerge in 2017 as the investments it has made in the business flow through.
Centaur shares were down 4.5% on Thursday morning to 53.50p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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