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LONDON (Alliance News) - Centaur Media PLC Wednesday said it was encouraged by its outlook for 2015, as it posted a swing to profit in its recently ended financial year and announced the appointment of Ron Sandler as non-executive chairman.
Sandler will take up the role from Centaur's annual general meeting May 13, succeeding Patrick Taylor. Sandler currently chairs Ironshore Inc and Towry Services Ltd.
The business information, events and marketing firm proposed a final dividend of 1.3 pence, taking its total dividend for the financial year to 3.85 pence, up from 2.40 pence a year before.
The company has moved its reporting period to match the calendar year from one that ended in June, meaning its full year accounts include 18 months.
For the 18 months to end-December 2014 Centaur posted a pretax profit of GBP11.3 million, swung from a pretax loss of GBP37.4 million in the 12 months to end-June 2013, mostly as a result of GBP44.9 million in exceptional costs in the previous year, mostly relating to the impairment of goodwilll.
It posted revenue of GBP105.6 million for the eighteen months, compared to GBP72.0 million in the previous 12-month year.
Excluding exceptional costs, the company posted an adjusted pretax profit of GBP10.1 million for the eighteen months, compared to GBP8.8 million in the previous year.
The company said that its trading in the first two months of 2015 as been in line with expectations, and said it expects to deliver growth in its operating profits and earnings per share excluding exceptional items in line with current market expectations.
"The business has responded exceptionally well to a significant level of change. We have delivered improved results, and momentum in both revenue and margin is building. We end the period with a stronger balance sheet, a structure that will deliver growth and a sharp focus on innovation in our core markets," said Chief Executive Andria Vidler in a statement.
Shares in Centaur Media were trading down 0.7% at 67.25 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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