Centaur Encouraged By Revenue Recovery
Centaur Holdings, publisher of Money Marketing and Marketing Week, has experienced strong revenue growth during the second half of this year, pushing pre-tax profit to £3.4 million.
The group, which was AIM listed in March this year, has saw turnover increase by 9% to £68.3 million for the year ending 30 June 2004, while advertising revenue climbed 13% in the last six months.
Chairman, Graham Sherren, said: “I am pleased to announce that Centaur’s first reported results as a listed company demonstrate strong growth in both turnover and profits in the 12 months to 30 June 2004.”I believe that our success in the past year and our expectations for strong growth in the future reflect the value of the strategy which Centaur has pursued since its formation.
He added: “I am pleased to be able to report that the recovery in the advertising cycle that started towards the end of 2003 is continuing. This strategy is based principally on establishing market-leading weekly magazines to serve distinct business communities and then extending our service to those communities through other media, most notably exhibitions, conferences and internet services.”
The statement issued this morning said, overall its magazine division, which includes, Design Week and Creative Review, started to recover from the advertising downturn at the end of 2003 and a strong second half recruitment advertising performance offset the declines experienced in the first half of the year.
Sherren’s outlook for the group remains positive as he said: “I am pleased to be able to report that recovery in the advertising cycle that started towards the end of 2003 is continuing. Trading in the first quarter is comfortably ahead of the same period last year. The outlook is at present encouraging and we remain on track to deliver growth in margins to our planned level of 20% over the next two years.”
Centaur Holdings: 020 7970 4000 www.centaur.co.uk
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