Centaur Media PLC Year-end trading update (8053Z)
January 15 2020 - 2:00AM
UK Regulatory
TIDMCAU
RNS Number : 8053Z
Centaur Media PLC
15 January 2020
Centaur Media plc
Incorporated in England and Wales
Registration number: 04948078
LEI: 2138005WK87G7DQRQI62
ISIN: GB0034291418
15 January 2020
Centaur Media Plc
(the "Company" or the "Group")
Year-end trading update
Centaur Media Plc, an international provider of business
information and specialist consultancy, is pleased to announce an
update on trading in the year ended 31 December 2019.
The Board is confident that the Group will report results in
line with current market expectations.
2019 was a transformational year for the Group as it completed
its disposal programme and realised value by disposing of
businesses with lower growth and margins. The Group now has a
strong balance sheet and it is on track to improve margin in line
with its Margin Acceleration Plan 2022 ("MAP22") through a
combination of accelerated profitable revenue growth and cost
efficiencies.
Highlights
-- In September 2019, the Company announced MAP22 with the aim of raising group EBITDA margins to at least 20% by
2022. The Board is pleased to announce that it has delivered against internal milestones for 2019 in relation to
MAP22 and is confident in its ability to continue to execute against this strategy;
-- The margin improvement of Xeim, our marketing business, is well underway and has benefitted from planned
management actions to withdraw from low-margin products;
-- The Lawyer continues to grow at forecasted levels as we drive the growth of our subscription-based products;
-- Centaur has strengthened its management with the appointments of Jude Bridge as managing partner of
Oystercatchers, our marketing consultancy and networking business, and Darren McGill as managing director of
MarketMakers, the UK's leading B2B telemarketing agency.
As announced in its 2019 interim results, from 1 January 2020
Centaur has adopted a new progressive dividend policy and will
target a pay-out ratio of 40% of adjusted earnings, subject to a
minimum annual dividend of 1p per share.
The Company will announce its results for the year ended 31
December 2019 on 18 March 2020.
Swag Mukerji, Chief Executive, said: "2019 was a
transformational year for the Group during which we completed our
disposal programme, resulting in a simpler business focused on the
marketing services and legal sectors. Through MAP 22, we will
continue to drive profitable revenue growth and create further cost
efficiencies to lift EBITDA margins to our target level of at least
20% by 2022."
-Ends-
Enquiries:
Centaur Media plc 0207 970 4000
Swag Mukerji, Chief Executive
Simon Longfield, Chief Financial
Officer
Teneo 0207 420 3144
Paul Durman/Rebecca Hislaire
Note to editors
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, Oystercatchers and The
Lawyer.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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