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Centaur highlights strong Marketing Week Live result in latest report
posted on: 13/7/2012 08:58:09
Centaur has highlighted a 23 per cent revenue rise on this year’s Marketing Week Live in its latest year-end trading update.
The events and publishing company said it expects to report profits in line with board expectations for the year to 30 June 2012, with underlying and adjusted revenue two per cent ahead year-on-year. Pre-tax margin is also expected to have increased from 14 to 18 per cent.
Centaur said trade over the past two months had been in line with forecasts, and highlighted the double-digit growth on Marketing Week Live as well as strong underlying growth rates across its broader events portfolio. Digital revenues were also on the rise and now represent 30 per cent of overall revenue, up from 26 per cent in 2011.
Deferred revenues of £11m are 20 per cent ahead of the same period last year, while net debt was lower than anticipated at £7.2m. Full-year results are due to be released on 13 September.
“Financial Year 2012 [FY12] has been a significant year of change for Centaur, culminating in the recently completed acquisition of Econsultancy,” chief executive Geoff Wilmot said. “Our revenue mix has improved significantly, with a notable increase in the proportion of digital revenues.
“At the same time, we have delivered underlying revenue growth despite difficult trading conditions and have secured a significant improvement in margins. We look forward to building on this performance in FY13 and delivering the full benefits of our recent acquisitions.”
The Association of Event Organisers (AEO), Association of Event Venues (AEV) and the Event Supplier and Services Association (ESSA) have joined together to launch a three-year research study into the UK exhibitions and live events sector.