Centaur Media earnings to top expectations

 
Oliver Smith
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CENTAUR Media expects to beat current market expectations for its earnings per share and operating profits this year, the business publisher announced yesterday, sending shares up 4.4 per cent.

For 2014 the group expects to post profits in line with market expectations, with revenues adjusted for the disposal of Perfect Information up three per cent for the year.

“Having restructured the group, the business feels reinvigorated and positive about the year ahead,” said chief executive Andria Vidler in Centaur’s trading statement.

“The consolidation of these changes alongside a sharper and more innovative focus on our markets will underpin further growth in both revenues and margins,” he added

Centaur’s shares closed up at 65.25p yesterday.

“The statement reinforces our positive view on the improving operational and trading performance being delivered by its focused management,” wrote Westhouse Securities analyst Roddy Davidson in a note yesterday. Westhouse increased its target price on Centaur to 77p and upgraded its rating from add to buy on Centaur’s stock.