Centaur Media PLC Potential disposal of Home Interest (8165A)
March 29 2017 - 2:05AM
UK Regulatory
TIDMCAU
RNS Number : 8165A
Centaur Media PLC
29 March 2017
29 March 2017
Centaur Media plc
("Centaur" or the "Group")
Creating a more digitally focused B2B business
Potential disposal of Home Interest
The Board of Centaur Media Plc (LSE: CAU), the business to
business information, insight and events group, announces that it
has commenced a process to explore the sale of its business to
consumer segment, Home Interest.
The Home Interest segment has undergone a significant
transformation in the past three years, generating improved
returns. However, Centaur's long term future is as a more digitally
focused B2B business. The Board has therefore decided that now is
the appropriate time to consider the sale of the segment with the
proceeds to be reinvested towards the corporate objective. Given
the progress made under Centaur's ownership, the Board believes
that Home Interest is well-placed to achieve continued growth under
new ownership.
The Home Interest portfolio consists of three key brands;
Homebuilding & Renovating, Period Living and Real Homes, and
comprises seven market leading exhibitions, print and digital
assets.
Under Centaur's ownership, the Home Interest segment has
benefited from considerable investment. This investment has driven
a marked improvement in performance and particularly in
Homebuilding & Renovating over the past three years has seen
revenue CAGR of 9%. Revenues of Home Interest were GBP12.9m in 2016
with proforma EBITDA of GBP4.9m with exhibitions comprising 50% of
revenues.
Livingstone Partners LLP has been appointed as exclusive
financial advisor to Centaur in relation to the sale of the
segment.
Andria Vidler, CEO of Centaur, commented:
"We believe that Centaur's long term future as a focused B2B
media group will generate better returns for Shareholders.
Therefore we are exploring the sale of Home Interest, which under
Centaur's ownership, has been transformed into a profitable and
growing asset.
"We are very proud of what the business has achieved and Home
Interest is now strongly positioned to realise its full potential
with a new owner."
Enquiries
Centaur Media plc
Andrea Vidler, Chief Executive 020 7970 4000
Swag Mukerji, Chief Financial Officer
Livingstone Partners LLP
Richard Fetterman, Partner 020 7484 4739
Patrick Groarke, Partner 020 7484 4707
Tulchan Communications
James Macey White 020 7353 4200
Will Smith
This information is provided by RNS
The company news service from the London Stock Exchange
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