Centaur Media plc (LSE: CAU, the “Group”), the business information and events group, today issues a trading update for the year ended 30 June 2013 and outlines a refocusing of the business around its key markets.
The Group expects to report profits slightly ahead of market expectations following the IMS published on 15 May 2013, with reported revenues up 10% on the prior year, EBITDA margins maintained at 18% and adjusted profits before taxation up 8%. Underlying revenues are, as anticipated in the IMS, expected to be 3% lower than in the previous year. Net debt at 30 June 2013 has reduced as expected to £19.5m, a multiple of approximately 1.5 times anticipated EBITDA.
The Group continues to make good progress in rebalancing revenues in favour of digital, paid for content and events. Digital and events revenues now account for 34% and 36% respectively of Group revenues, with both revenue types growing on a reported basis by approximately 27% compared to last year. Paid for content revenues now account for 28% of Group revenues compared to 24% last year.