Report
Fiona Orford-Williams

Centaur Media - Flagship 4 showing their strengths

Centaur has posted good H122 figures, with revenues ahead by 8% on H121 and an uplift in EBITDA margin from 12% to 17%, well on the way to achieving the 23% targeted within management’s MAP23 objectives. The emphasis on driving higher-quality revenues from premium content, marketing services and training and advisory is giving the group a resilient earnings base. High subscription renewal levels indicate the utility to clients, with continued investment in content and products ensuring that these stay relevant and value-adding. The half-year balance sheet net cash was £14.2m and the valuation remains at a marked discount to peers.
Underlying
Centaur Media

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.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Fiona Orford-Williams

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