Centaur Media PLC Centaur sells financial services to Metropolis (5745U)
April 01 2019 - 2:00AM
UK Regulatory
TIDMCAU
RNS Number : 5745U
Centaur Media PLC
01 April 2019
01 April 2019
Centaur Media Plc
Centaur sells financial services division to Metropolis
Centaur Media Plc ("Centaur"), an international provider of
business information and specialist consultancy, today announces
that it has sold its financial services division to Metropolis
Group ("Metropolis"), specialists in business and consumer
media.
The disposal follows Centaur's decision last October to explore
the divestment of its smaller businesses in order to simplify the
Group's structure and to focus management resources on its leading
brands.
Metropolis has paid GBP5m in cash for the division sold. Centaur
will consider the best use for the proceeds following the
completion of its divestment review.
Centaur's financial services division comprises a portfolio of
leading multi-channel publishing and content brands, including
Money Marketing, Mortgage Strategy, Platforum, Taxbriefs and
Headline Money. These brands generate advertising and other revenue
by serving a range of audience segments within the financial
services industry, including financial advisers, mortgage brokers,
accountants and asset managers.
Andria Vidler, Chief Executive of Centaur, commented:
"This disposal continues the simplification of Centaur, further
reducing our advertising exposure and allowing us to focus on
developing products and services with stronger recurring revenues.
A simpler group structure will allow us to deliver efficiencies and
other operational benefits.
"Our financial services portfolio which includes Money Marketing
has played a key role in the development of Centaur over the years,
and I want to thank the teams for all their hard work. I am pleased
that Metropolis sees the potential to develop the business
further."
Robert Marr, Chief Executive of Metropolis Group, added:
"The acquisition continues the development of Metropolis and
aligns with our vision of delivering sustainable profitable futures
for well-managed media brands. We look forward to working together
with the financial services team to further develop these
long-standing market-leading brands."
Cavendish Corporate Finance acted as financial adviser to
Centaur in relation to the sale of the financial services
business.
For the year ended 31 December 2018, Centaur's financial
services business made an adjusted operating profit of GBP1.2m, up
from GBP0.6m in 2017, on revenues of GBP8.2m (2017: GBP8.9m). At 31
December 2018, the business had gross assets of GBP2.3m.
Enquiries
Centaur Media Plc
Andria Vidler, Chief Executive Officer 020 7970 4000
Swag Mukerji, Chief Financial Officer
Teneo
Paul Durman/Rebecca Hislaire
020 7420 3144
Note to editors
Centaur
Centaur is an international provider of business information and
specialist consultancy that inspires and enables people to excel at
what they do, raising the standard for insight, interaction and
impact.
Leading brands include: Econsultancy, Marketing Week, Festival
of Marketing, MarketMakers, Creative Review, Influencer
Intelligence, Fashion & Beauty Monitor, The Lawyer, Employee
Benefits, The Engineer, Subcon, Oystercatchers, the Business Travel
Show and The Meetings Show.
Metropolis Group
Metropolis Group is a fast-growing group, established in 1994,
that specialises in business & consumer media and discount
& loyalty programmes. It employs 500 people and has offices in
West London, Croydon, Shoreditch, Bolton, Dublin, and Chester.
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END
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