Centaur chief exec quits after profit warning

BUSINESS publishing group Centaur Media lost more than a quarter of its market value, as well as its chief executive, yesterday after a shock profit warning.

Geoff Wilmot said he would step down from the publisher of The Lawyer and Marketing Week after six and a half years, after Centaur revealed that profit growth in the year to July would be “modest”.

Analysts had expected the company to improve significantly on the £8m it made in the previous 12-month period, and the disappointment sent Centaur’s shares down by 27.7 per cent.

Wilmot will be replaced on an interim basis by chief financial officer Mark Kerswell, who was formerly chief operating officer of FTSE 100 media group Informa.