|
(Correcting full-year revenue for 2022) Centaur Media PLC on Thursday said that it could surpass a 25% profit margin for 2023, despite ‘macroeconomic uncertainty’ throughout the year. The London-based business information, training and specialist consultancy provider said that it expects revenue to drop ‘slightly below’ 2022 levels for the 12-months ended December 31. In 2022, Centaur’s revenue was £41.6 million. The group attributes the decline to 2023’s ‘macro-economic environment, trading conditions and inflationary pressures’, which slowed sales in the second half of the year. The company expects to deliver good yearly growth in adjusted earnings before interest, tax, depreciation and amortisation as well as Ebitda margins. Ebitda was £35 million with a margin of 18% for the 2022 full year. Centaur said that its 2023 Ebitda performance is expected to result in a margin of over 25%. which the company claimed reflects its ‘ongoing focus on strategically valuable revenue streams and the operational leverage inherent within Centaur’s business’. These results would surpass the targets for profitability laid out in Centaur’s ‘margin acceleration plan’ in 2021. As of December 31, Centaur’s net cash balance stood at £9.5 million, down from £16.0 million in December 2022. Chief Executive Officer Swag Mukerji said: ‘Centaur continues to perform well despite the macroeconomic uncertainty that characterised 2023 for our customers. During this time, we have taken financial and operational steps to improve the efficiency of our business and I am very pleased that we have exceeded the profit margin target set out over three years ago. ‘I am particularly proud that, despite the extreme upheaval of the last few years, we have significantly grown our profits and built a business with a high proportion of strategically valuable revenue generated from blue-chip customers. This provides a strong platform for our future strategy, which we will outline following our preliminary results.’ Shares in Centaur were down 2.4% at 41.00 pence each in London on Friday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
