20th Feb 2014 08:43
LONDON (Alliance News) - Centaur Media PLC said Thursday that it anticipates its results for the full-year will meet expectations, as it saw a narrowed pretax loss and rising revenue in the half-year ended December 31 2013.
Centaur Media raised its interim dividend to 0.85 pence from 0.825 pence in the previous year. The company said that, due to the seasonal nature of its events and exhibitions business, it expects higher revenues and operating profits between January and June.
The events, publishing and media company posted a pretax loss of GBP2.9 million, down from a pretax loss of GBP5.0 million in the previous year. The pretax loss was due to exceptional costs of GBP2.7 million including redundancy and recruitment costs, the write off of capitalised costs relating to a discontinued product and earn-out charges.
On an adjusted basis, excluding exceptional costs, the company posted a pretax profit of GBP900,000, up from GBP700,000 in the previous year.
Revenue rose to GBP32.7 million from GBP30.4 million in the previous year.
Following its appointed of new Chief Executive Officer Andria Vidler in November, Centaur said that its immediate priority is to complete the re-organisation of its operations into two businesses, Centaur Insight and Centaur Live. Centaur Insight will combine the company's publishing, business information and data businesses. Centaur Live will consist of the company's events and exhibitions businesses.
As part of this strategy, it is also continuing to shift its revenue mix towards paid-for content and events.
Revenue from digital products rose 8% during the period, and events rose 20%, offsetting declines of 5% in traditional print revenues.
Shares in Centaur Media were trading down 2.8% at 68.01 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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