Centaur is predicting a 14 per cent rise in total revenue for the year to 30 June 2011 after strong trading across its exhibition and digital divisions in the last two months.
In a pre-close trading statement, the exhibition organiser said it expects profits to surpass the board’s expectations by 14 per cent, while pre-tax earnings will increase by 14 per cent over the same period. Centaur claimed underlying revenues, excluding the impact of acquisitions and adjusting for the timescale of several exhibitions, are up 10 per cent.
Event revenues continue to show steady growth and are 20 per cent ahead of the second half of 2010, meaning underlying year-on-year revenue growth across the events portfolio is up 13 per cent. Centaur highlighted record visitor numbers and revenues at its Marketing Week Live as a major contributor.
“Forward bookings across the Group's exhibitions portfolio are showing strong growth compared to the same time last year,” the company stated.
Centaur said digital advertising revenues also showed stronger growth, with the second-half result up 21 per cent on last year. The company’s full-year results are expected on 15 September.
"The last quarter of the year, which is normally our strongest, finished at the top end of our expectations,” Centaur chief executive Geoff Wilmot said. “The improved trading conditions experienced in FY11 have continued into the current financial year.”
Last month, Centaur announced the departure of exhibition chief Calum Taylor as well as a restructure of the business into three operating divisions: Business publishing, business information and exhibitions.
"The recently announced restructuring and rationalisation, our portfolio of market-leading brands and our strengthened management team, will enable Centaur to benefit more rapidly from continuing recovery and from the recent investments in digital services,” Wilmot said. “This will provide a robust platform from which to deliver accelerated revenue growth and margin improvement in the medium-term.”
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