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Revamp pays off for Centaur as digital growth spurs profit rise
CENTAUR Media posted a surprise rise in annual profits yesterday, sending shares in the business information group up 12 per cent.
The company, which publishes magazines including Marketing Week and The Lawyer, said that growth in digital revenues had propelled it to a 23 per cent rise in pre-tax profit to £8m when one-off costs were stripped out.
Chief executive Geoff Wilmot said Centaur had had a “transformational year” after a cost cutting operation last summer saw it sell off several titles. “We are seeing good momentum as we head into the new financial year,” Wilmot said. Digital sales rose seven per cent and made up 30 per cent of £65.6m revenue.