Shares climb as Centaur Media reports rocketing revenue growth
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Centaur Media reported “profitable revenue growth” this morning as its flagship brands continue to grow despite ongoing coronavirus variant uncertainties.
The owner of Marketing Week expects to report revenues of at least £38.5m for the year, ahead of consensus.
The update revealed that trading remained strong in its Flagship 4 and Core Brands in the last quarter particularly in Econsultancy, MW Mini MBA, The Lawyer and Marketing Week.
As a result, Centaur ended the year with a cash balance of £13.1m as of 31 December 2021, compared to £8.3m as at the end of 2020.
Swag Mukerji, chief exec, commented: “In 2021, we introduced our Margin Acceleration Plan, MAP23, to drive profitable revenue growth for the business.”
“I am pleased with the progress our brands have made with this strategy over the past twelve months and both our Flagship 4 and Core Brands have seen strong trading performances. We remain on track to hit our MAP23 targets.”
Shares were up over six per cent to 59.50p in early morning trading following the update.
The firm will announce its full year results on March 16.