Centaur Media reports 9% increase in digital revenues

Centaur Media has reported a 9 per cent increase in digital revenues, which now represent 31 per cent of the B2B publisher's total revenues.

An interim statement for the 10 month period to 30 April also shows overall revenues were up 3 per cent compared with the same period last year.

Print revenues suffered a 3 per cent drop, while underlying digital revenues rose 7 per cent, and the events part of the business saw a 6 per cent boost.

The publisher of Marketing Week, The Lawyer and Money Marketing, said in a statement: "Despite the continuation of challenging trading conditions, the group expects to report results in line with its expectations for the current financial year."
 
Centaur added that "the anticipated weakness in print advertising revenues principally related to the Marketing Week, Money Marketing and Fund Strategy titles. All other print titles and all digital titles reported satisfactory revenue growth."

In April the group confirmed up to 10 editorial jobs were at risk, the same month as a paywall was introduced for digital-only title New Media Age.

The company today said it is continuing to make cost savings, stating that it is expecting to deliver in excess of £2 million of annualised cost savings for the first six months of this year. These will result in estimated restructuring charges of £1.5 million.

Centaur's chief executive Geoff Wilmot said in a statement: "We are encouraged by the progress made towards growing digital revenues and increasing margins. We have good momentum and a strong pipeline of potential acquisitions as we approach the new financial year.
 
"As anticipated, we have seen some weakness in print revenues but this has been offset by good growth across our digital and events revenues. Furthermore our continued programme of improving our operational efficiencies has enabled us to grow our underlying margins.
 
"Despite the continuation of challenging trading conditions, the group expects to report results in line with its expectations for the current financial year."

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