11th May 2016 08:00
LONDON (Alliance News) - Centaur Media PLC said full-year trading is in line with expectations as it reported revenue growth in the first four months of the year, ahead of its annual meeting of shareholders on Wednesday.
The business information and media group said revenue grew by 5% in the first four months of 2016, with paid-for content and exhibitions revenue growing well, although it acknowledged some "market pressure" in advertising and sponsorship revenue.
Cash conversion for the first four months was 170% and Centaur said it expects cash conversion rates for the remainder of the year to remain strong.
Net debt at April 30 was GBP15.2 million, down from GBP17.9 million at December 31, and Centaur said it remains confident that net debt to adjusted earnings before interest, tax, depreciation and amortisation will be tracking below one times by the end of the year.
"Whilst it is early in the year, the board anticipates that trading for the full year will be in line with market expectations," Centaur said in a statement.
Shares in Centaur were trading down 1.5% at 49.50 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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