Centaur reports a 2 per cent rise for print and 15 per cent increase for digital
Business publisher Centaur Media today reported a 9 per cent increase in underlying revenue for the period of July to the end of October, with a boost to digital revenues alone of 15 per cent.
An interim management statement released by the company says its publishing business "is seeing revenue and cost savings benefits" following a restructure in June. A breakdown of its revenue figures given in the statement show a 2 per cent rise for print, 15 per cent increase for digital and 23 per cent boost for its events business, year-on-year.
"By source, underlying advertising and paid for content revenues were both up 6 per cent against the same period last year," the company added.
"In business publishing, each of the three publishing groups is seeing revenue and cost savings benefits from the June restructuring. In business information, renewal rates and new business wins are in line with expectations."
As part of its restructure in June the publisher announced plans to axe the print editions of Design Week and New Media Age, with both going online-only. Today's statement reported that the £2.5 million costs of its June restructure "were in line with the group's expectations".
"We are very encouraged by the strong start to the year, with the benefits of the restructuring programme implemented this summer seen across the group," chief executive Geoff Wilmot, added in the statement.
"While the economic environment remains uncertain, all three divisions are growing well, recent acquisitions are performing well and there is a strong pipeline of potential acquisitions. Overall, the group is trading in line with our expectations for the current financial year."
In its end of year results published in September, the company recorded a pre-tax loss of £30.3 million but strong underlying growth, with an overall revenue increase of 14 per cent from £59.9 million to £68.3 million.
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