WORLD - Centaur is anticipating exceptional costs for the first six months of the year related to reorganisation costs, earn-out charges and acquisitions.
In a trading update for the six months to 31 December 2012, the group expects to report results in line with the board's expectations, with reported revenues 14 per cent ahead of the same period last year. Underlying revenues across the whole group declined by three per cent.
Digital and events revenues now account for 39 per cent and 28 per cent respectively of total group revenues, up from 32 per cent and 22 per cent in the same period last year.
Over the same period, the share of total group revenues generated in print format reduced, as expected, to 31 per cent from 45 per cent.
Growth in underlying revenues across the business information and exhibitions divisions, has been offset by weaker revenues across the business publishing financial and marketing communities.
Net debt at 31 December 2012 was £24.5m.
“We have maintained momentum in improving the quality of our portfolio of activities as we continue to grow revenues from digital and events,” said Centaur chief executive Geoff Wilmot. “We continue to focus on increasing margins and we have a strong pipeline of new product development initiatives, which positions us well to deliver further growth in the medium term.
“We anticipate trading to be in line with our expectations for the current financial year, although the second half of our financial year continues to account for the large majority of our earnings.”
The group expects to release its half yearly earnings report on 20 February 2013.
Exhibitions and digital investment aided Centaur’s growth, according to its full-year results, posted in September.
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