Centaur Regulatory News (CAU)

12 Jul 2007 07:00

Centaur Media PLC12 July 2007 12th July 2007 Centaur Media plc ("Centaur" or "the Group") PRE-CLOSE TRADING STATEMENT Full year results expected to be at the top end of market expectations Performance supported by continued organic growth -------------------------------------------------------------------------------- Centaur Media plc (notes i & ii), the specialist business publishing andinformation company, today issues a pre-close trading update for the year ended30th June 2007, prior to its preliminary results announcement, scheduled for21st September 2007. Overall trading performance review Results for the year ended 30th June 2007 are anticipated to be at the top endof market expectations, with the Group achieving further strong growth inadjusted PBT (note iii). This growth in profits has been driven by another yearof double digit revenue growth, led by strong results in the legal, financialand construction divisions, a second half improvement in the marketing andcreative divisions and assisted by a positive contribution from acquisitions. Wealso anticipate reporting further improvement in EBITDA margins (note iv), inline with the Board's expectations. In the year to 30th June 2007, total advertising revenues are expected to haveincreased by about 15% compared with the prior year, reflecting a positivesecond half performance across most market sectors. The principal sources ofthis growth were in magazine display advertising and in online advertising. Revenues from exhibitions, conferences and other events are expected to showfull year growth in the order of 8%, recovering strongly in the second half. Inparticular, the Group has experienced strong growth in revenues frommeetings-based events, with established exhibitions and conferences alsodelivering improved results. The Group has continued to achieve a high level of cash conversion and net cashbalances at the end of June were just under £9m. Current trading and outlook The Board believes that its strategy of building and acquiring strongmulti-platform brands serving niche business communities will enable the Groupto make further good progress in the new financial year. The current outlook foreach of our served markets is positive for the year ahead. The Group also has ahealthy pipeline of new products to support future growth. As a result, theBoard is confident of a further positive performance for the Group for the yearending 30th June 2008. Enquiries: Centaur Media plc Geoff Wilmot Tel: 020 7970 4000 Mike Lally Gavin Anderson & Company Robert Speed Tel: 020 7554 1400 Notes i. Centaur's product portfolio currently includes 10 weekly or fortnightly magazines, 21 other magazines, over 20 online products or services, 25 awards or other sponsored events, 20 exhibitions and 80 conferences. ii. Centaur reports its results within 5 distinct business sector segments, namely Marketing and Creative, Legal and Financial, Engineering and Construction, Perfect Information and Other. The first 3 segments comprise principally the following vertical business communities in which Centaur publishes market-leading magazine titles: Marketing Services, Creative Services, New Media, Retail Financial Products, Legal Services, Engineering, Private Homebuilding. Centaur also enjoys strong positions in a number of other specialist communities, namely HR, Construction, Antique Rugs and Textiles, Logistics, Recruitment and Public/Private Finance. In addition, it serves the Business Travel community with 3 leading trade shows in the UK and overseas and an associated web service. iii. Adjusted PBT is Profit Before Tax, excluding the impact of amortisation of intangibles and of exceptional items, including share-based payments. iv. Centaur's key internal measure of profit is earnings before interest, tax, depreciation and amortisation and excluding exceptionals (EBITDA). This information is provided by RNS The company news service from the London Stock Exchange