Revenues down 16 per cent at B2B group Centaur

B2B publishing group Centaur has revealed that group revenues were down 16 per cent in the first four months of its financial year – July to October.

The publisher of titles including Marketing Week, Money Marketing, The Lawyer, Design Week, New Media Age and Mortgage Strategy said in a trading update today that “recent events in the financial sector [had] led to significant reductions in advertising expenditure throughout our served markets during this period”.

However it added: “We are confident that, during this period of economic turbulence, the fundamental strengths of the group remain unchanged and should provide a measure of resilience during any prolonged period of economic downturn as well ensuring a foundation for strong growth as our served markets recover.”

Centaur said it had improved share in its various markets over the past year and said: “Strong print brands remain central to market leadership and both online and event models continue to offer incremental growth opportunities with greater resilience during a period of reduced discretionary B2B marketing spend.”

Centaur shares were trading at 41p as of 8.30am this morning – down from 47.75p at close of trading yesterday. Centaur’s 52-week share price high was 100.75p.

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