Centaur Media is again expecting double-digit growth from its exhibition portfolio, EN can reveal.
The company’s financial year ends in June, and exhibition MD Andrew Evans told EN that the firm looks set to carry on its 11 per cent growth over the final weeks.
Last year Centaur reported 14 per cent growth in its exhibition division.
“We are reporting sustained double-digit growth,” said Evans. “This is a challenging backdrop for B2B shows, and we are a success story.”
During Evans’ 20 months at the company, the group has made five product launches, including the Hospitality Technology Exhibition at Earls Court in February. Evans revealed that two further shows are set to be unveiled in July.
This follows today’s release of an interim management statement for the period to 14 May 2013.
“Growth in the final two months of the 2013 financial year is expected to be flat, but the outlook for growth in 2014 events revenues remains encouraging,” the statement said.
The remainder of the exhibition division’s revenues comprise revenues from the specialist home interest publication brands, where both print and digital revenues continue to report good rates of underlying revenue growth.
In addition, Geoff Wilmot is stepping down as CEO but has agreed to remain with the business until the end of the financial year in order to implement a smooth handover to Mark Kerswell, who is now interim CEO. Tim Potter, MD of the business publishing division, has also decided to leave Centaur, with a successor currently being lined up.
Although revenue trends and forward bookings are improving, the board does not now anticipate underlying revenues for the group as a whole returning to growth in the remainder of the financial year to 30 June 2013, as had previously been anticipated.
The principal factors impacting the underlying and reported performance across the group are weakness in print advertising, which has been most evident across the financial titles and poor recruitment revenues.
The board now expects to deliver modest profit growth for the current financial year to 30 June 2013, relative to the adjusted profit before tax of £8m reported last year. “This is below market expectations,” the statement added.
Centaur is adding a new home improvement show edition at the NEC.
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