Business magazines publisher Centaur has denied the company is engaged in a strategic review but revealed that it is currently involved in a ‘valuation’of the business.
Centaur group financial director Michael Lally dismissed reports that the company, which publishes Creative Review and The Lawyer, was engaged in a strategic review.
Lally said: ‘The market and the sector is in very strange shape at the moment. As a result of that, we are having conversations with a number of people from a speculative valuation point of view.”
He said that this process involved the company’s current brokers Numis – and others.
Centaur’s management team is concerned that the company share price was down to 84p from the £1 at which it floated at four years ago, despite continuous revenue and profit growth.
Centaur has reported profit before tax up 22 per cent to £5 million on revenue up 6 per cent to £39.1 million for the six months to December.
‘It’s no more at the moment than what’s the reason for our share price and what’s the best way of unlocking shareholder value going forward in any form either as a public or a private company?”
Lally said that if the company’s share price were to remain at the current level for ‘a long time’it would have to consider its position but currently, management had ‘reached no conclusions”.