Centaur Media - Resilient performance
Centaur’s FY20 results are a shade ahead of our forecast and show a resilient performance considering the impact of the pandemic. Q1 trading to date is in line, in what is generally the quietest quarter for revenues with no scheduled events or Mini MBA courses, and cash at end February was £8.2m (IFRS liabilities only). The group is now reinstating dividend payments and will pay 0.5p for FY20, with a minimum payment of 1.0p set out for future years. Centaur’s MAP23 strategy, laid out in January, gives the framework and impetus for revenue growth and improving profitability, which should in turn drive an increasing valuation.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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