Centaur Media predicts revenue rise ahead of half-year report

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Centaur Media expects to report an increase of 4 per cent in underlying revenues when it issues its half year report next month, it said today in a trading update.

In today's statement the business-to-business publisher said its expectations are that its profits for the six months ending December 2011 will be "in line with the board's expectations", with EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins predicted to have increased on the same period from the previous year, from 4.5 per cent to 6.5 per cent.

The publisher added that while revenues for November "were weaker than last year" the next month showed improvement with "a return to growth" in December.

Growth in its digital revenues were also reporting to be continuing, "while print revenues are broadly flat". In its statement ahead of its half-year report Centaur said the expected increases in EBITDA demonstrate "the benefits of the restructuring initiatives and the impact of the disposals programme" carried out. Its end of year results for 2010/11 , reported in September, saw the company record a pre-tax loss of £30.3 million but strong underlying growth, after being hit by costs linked to its restructuring programme.

Among the changes were the closure of the print editions of Design Week and New Media Age in June, which moved online-only.

More details on the group's performance in the last six months of 2011 will be revealed when it publishes its earnings report, due to be released on 23 February.

"We remain encouraged by what has been a good first half,' chief executive Geoff Wilmot said in today's trading update.

"While the economic outlook is challenging, we see strong potential across each of the Business Publishing, Business Information and Exhibitions divisions and there remains a strong pipeline of potential acquisitions.

"The second half of the year traditionally accounts for the majority of our earnings, and we anticipate trading in line with our expectations for the current financial year."