Centaur upbeat as restructures group into four new divisions

CENTAUR Media, the publisher of business magazines Marketing Week and The Lawyer, yesterday said underlying revenues had fallen three per cent in the year to the end of June.

Despite the drop, it expects pre-tax profits before exceptional items to be up eight per cent.

The firm, which has been attempting to refocus the business on events and digital publishing as print magazine advertising falls, said digital now accounted for 34 per cent of overall group revenues and events for 36 per cent.

Paid for content revenues now account for 28 per cent of overall group revenues.

Centaur said it would also refocus its business around four groups; marketing, professional, financial and consumer, in a bid to improve revenues.

Its full year results, due to be published in September, will be laid out under the new divisions.

Mark Kerswell, interim chief executive after Geoff Wilmot resigned in May, said there was “renewed vigour and enthusiasm across the group.”

“We are increasingly confident that the outlook for 2014 is positive,” he added.