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New boss at bullish Centaur

Companies: CAU   
12/07/2006

Business publisher Centaur Media expects buoyant 2005-06 results and has appointed finance chief Geoff Wilmot as chief executive officer.

Fully-listed Centaur, which increased first-half profits 75 per cent to £3.1 million pre-tax, says its figures for the year to June are anticipated to be 'at the top end of market expectations'. The acquisitive company has enjoyed 'double digit' revenue growth, with a strong second half year for its legal, engineering and financial publications, helped by some of its recent acquisitions.

According to Centaur, advertising revenues are expected to have risen by more than 10 per cent, largely thanks to strong magazine display advertising and internet recruitment. Recent acquisitions, notably magazines The Recruiter and Period Living, as well as the Pro Talk online service, have 'performed well', as have new events such as the Logistics shows and the Mortgage and Investment summits.

In a top-level reshuffle, autocratic founder Graham Sherren is dividing the roles of chairman and chief executive officer from November. Geoff Wilmot, chief financial officer of Centaur since 1998, will become chief executive officer.

Directors are confident the company's performance this year 'will exceed previous expectations'. At 111p, up 4p this morning, the shares value Centaur at £166 million and could make progress.

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