Centaur Media shares rise as ups revenue, earnings outlook for 2024

(Alliance News) - Centaur Media PLC on Wednesday upgraded its 2024 outlook, despite noting marketing sector headwinds.

The London-based business consultancy group said it now expects to achieve revenue of GBP35 million for 2024, down 6.2% from GBP37.3 million in 2023, but ahead of the firm's previous consensus of GBP34.0 million.

The earnings before interest, tax, depreciation and amortisation margin is anticipated at 16% for 2024, down from 26% in 2023 but beating the company's previous consensus of 15%.

Centaur shares rose 15% to 30.00 pence each on Wednesday afternoon in London.

The company said the better outcome is despite marketing sector headwinds in 2024, caused by macro-economic challenges which had a "particular" impact on the Ecoconsultancy and Oystercatchers brands.

Executive Chair Martin Rowland said: "It is pleasing to see the group's performance showing better than expected results for 2024. Since taking on the role of executive chair earlier this month, I have started a review of Centaur's business units and their brands. Our focus will be on defining the strategy and enhancing the reputation of each brand within Centaur to maximise shareholder value while remaining our customers' partner of choice for business intelligence and learning in the marketing and legal sectors."

In December, the company announced that chief executive officer Swag Mukerji has decided to retire from his role and the board.

Centaur Media has since promoted Chair Martin Rowland to executive chair following Mukerji's departure.

By Tom Budszus, Alliance News slot editor

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