(Alliance News) - Centaur Media PLC on Wednesday upped its annual dividend, after reporting a higher profit.
In 2023, the London-based business information, training and specialist consultancy provider reported that revenue fell to GBP37.3 million from GBP38.4 million a year earlier.
The company said that revenue dropped "after a softening in the macroeconomic environment trading conditions and inflationary pressures."
Meanwhile, pretax profit in the period surged to GBP4.9 million from GBP2.8 million.
On the back of the higher profit, Centaur upped its dividend to 1.8 pence from 1.1p.
Chief Executive Swag Mukerji said: "This year's performance is the culmination of our MAP23 strategy which achieved its three clear objectives: to implement a simple, efficient and scalable operating model, develop high quality, trusted products which are the leaders in their markets, and build the credibility of Centaur's management team for delivering on its strategic and financial commitments.
"We have significantly grown our profitability and built a business with an impressive proportion of higher quality revenue, providing us with a scalable platform for long-term sustainable future growth."
Shares in Centaur were up 1.6% at 40.62 pence each in London on Wednesday afternoon.
By Sophie Rose, Alliance News senior reporter
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Centaur (CAU)