Future plc has said the integration of Centaur Media’s Home Interest division progresses well. The event organiser and publisher announced the proposed acquisition in July this year and completed the operation the following month.
EN understands that the management team of Centaur’s Home Interest division will move across with the business and back office responsibilities will be transferred to Future plc in due course.
The Home Interest division provides information to the homebuilding and renovating community. Its portfolio comprises the brands Homebuilding and Renovating, Real Home and Period Living. The portfolio includes seven annual exhibitions held across the UK, three monthly print publications and three digital websites.
“The acquisition of the Centaur Home Interest division is absolutely in line with our strategy of being in specialist markets and creating content that is of value to specialist audiences,” Ben Greenish, managing director commercial sales, events, and B2B at Future plc, told EN.
Greenish continued: “The acquisition has added scale and momentum to our business and helps us in becoming a global specialist platform. We are eager to build on the existing Homebuilding and Renovating Shows by accelerating their plan, and with both portfolios, seeing if we can find synergies and efficiencies by running the two together more closely.”
Homebuilding and Renovating is deemed a leading brand in the sector, and its exhibitions have established a strong reputation as being must-attend events for anyone undertaking a home building or renovating project, as well as suppliers to the industry.
Future plc is a specialist media group operating two core divisions: the Media division comprising e-commerce, events and digital advertising, and the Magazine division producing over 100 specialist publications across Technology, Games, Music, Film, Creative, Sports and Science.
The company released on Wednesday 4 October a pre-close trading update for the 12 months to 30 September 2017. The statement said that overall trading for the year has been positive, and it is anticipated that results for the full year will be ahead of the board’s expectations.
Future plc also said that it has achieved good growth in operating profitability and has benefitted from strong cash conversion in the period, with year-end leverage less than 1x adjusted EBITDA.
CEO Zillah Byng-Thorne, commented:”We have delivered growth in both operating profitability and cash conversion, driven by strong revenue growth in eCommerce and events. The three acquisitions we have made during this financial year have further strengthened and diversified our revenue streams, as we continue to build a global platform for specialist media with data at its heart.”
Trading update highlights:
- The Group’s Media division is performing well with fast revenue growth, particularly in eCommerce and events.
- The Group’s Magazine division has benefited from the added scale and operational efficiencies of the Imagine Publishing, Team Rock and Home Interest acquisitions.
- The integration of Home Interest, acquired in early August, is progressing well and is expected to be fully completed by the end of this calendar year. Home Interest is trading in line with expectations.
- The acquisitions made throughout the year and the strong growth of eCommerce and events, reinforces the Group’s strategy to build a platform business with diversified revenue streams.
Future plc expects to publish its full year results for the period ended 30 September 2017 on 24 November 2017.