Centaur Media - Building margin
Centaur’s trading update, issued alongside its capital markets day, indicates good progress in H221 to date, building on the post-pandemic recovery in revenues and margin reported for H1. We have edged up our expectations, particularly on the pace of improvement in EBITDA margin towards the FY23 management target of 23%. The share price has held the gain made after the interim results and is now up 68% year-to-date, yet the rating remains at a discount to peers.Centaur Media is a holding company. Through its subsidiaries, Co. is engaged in the provision of business information, events and marketing solutions to selected professional and commercial markets. Co.'s activities are categorized across four market segments: Marketing, which includes all of Co.'s brands that serve marketing and professions in primary market sectors; Professional, which includes legal portfolio, such as the print, digital and live event activities associated with The Lawyer and Clean Energy Pipeline; Financial Services, which serves the retail financial services industry; and Home Interest, which includes the live events and publishing assets.
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