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Pin to quick picksCentaur Share News (CAU)

Share Price Information for Centaur (CAU)

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Share Price: 39.50
Bid: 38.00
Ask: 41.00
Change: 0.00 (0.00%)
Spread: 3.00 (7.895%)
Open: 39.50
High: 39.50
Low: 39.50
Prev. Close: 39.50
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Centaur Media gets digital ad boost

Thu, 14th Jul 2011 11:27

Centaur Media, the publisher and events organiser, says revenues are up 14% on 2010 and it expects profits at the top end of expectations.Interestingly, the firm which produces the Lawyer and Marketing Week, says digital advertising revenues (+14%) were up much more than print (+7%) perhaps giving a sense of the general trend within the publishing business. The aggregate figure for advertising sales was 7%.The events business, which includes Marketing Week Live, saw year on year growth of 13%.Centaur has undertaken a significant restructuring in 2011, it claims cost savings associated with this process will total £1.5m although redundancies will incur a one off cash charge of £2.5m.Commenting on the results the chief executive Geoff Wilmot said:"The recently announced restructuring and rationalisation, our portfolio of market leading brands and our strengthened management team, will enable Centaur to benefit more rapidly from continuing recovery and from the recent investments in digital services."Investors seemed to agree with his assessment, the group was up 6.52% in morning trading at 49.00p.BS
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Wednesday broker round-up

AMEC: Credit Suisse downgrades from outperform to neutral with a target price of 1250p. Antofagasta: Alphavalue lowers target price from 1000.6p to 999.5p, while upgrading from add to buy. Associated British Foods: Credit Suisse raises target price from 1850p to 2250p and keeps a neutral rating.

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