Centaur gets boost from restructuring

Events firm and trade publisher Centaur Media said it had seen significant improvement in revenues and cost base at the start of its 2012/13 financial year.The firm reported revenues across the group ware up by 14% in the period with EBITDA (earnings before interest, tax, depreciation and amortisation) margins benefitting from recent restructuring initiatives.Digital and events revenues accounted for 38% and 30% of total revenues in the period, up from 32% and 22% in the same period last year.Across the Business Publishing division marketing, legal and financial communities continue to see weakness in advertising revenues.However, its the HR and engineering 'communities' reported good rates of underlying growth. The outlook across Business Publishing for the seasonally stronger second half of the financial year remained relatively uncertain for the Group's advertising-led products, Centaur said."Whilst trading conditions remain challenging in some markets, we are well placed to deliver further growth in 2013 and continue to make good progress towards our medium-term targets," said Chief Executive Geoff Wilmot. "We anticipate trading to be in line with our expectations for the current financial year."MM