Centaur Media expects double-digit growth in exhibition portfolio

Centaur Media is again expecting double-digit growth from its exhibition portfolio, Centaur Exhibitions, CN can reveal.

The company’s financial year ends in June, and Exhibition MD Andrew Evans told CN that the firm looks set to carry on its 11 per cent growth over the final weeks.

Last year Centaur reported 14 per cent growth in its exhibition division, which includes The Meetings Show UK and Business Travel Show.

“We
are reporting sustained double-digit growth,” said Evans. “This is a
challenging backdrop for B2B shows, and we are a success story.”

During
Evans’ 20 months at the company, the group has made five product
launches, including the Hospitality Technology Exhibition at Earls Court
in February. Evans revealed that two further shows are set to be
unveiled in July.

This follows today’s release of an interim management statement for the period to 14 May 2013.

“Growth
in the final two months of the 2013 financial year is expected to be
flat, but the outlook for growth in 2014 events revenues remains
encouraging,” the statement said.

The
remainder of the exhibition division’s revenues comprise revenues from
the specialist home interest publication brands, where both print and
digital revenues continue to report good rates of underlying revenue
growth.

In
addition, Geoff Wilmot is stepping down as CEO but has agreed to remain
with the business until the end of the financial year in order to
implement a smooth handover to Mark Kerswell, who is now interim CEO.
Tim Potter, MD of the business publishing division, has also decided to
leave Centaur, with a successor currently being lined up.

Although
revenue trends and forward bookings are improving, the board does not
now anticipate underlying revenues for the group as a whole returning to
growth in the remainder of the financial year to 30 June 2013, as had
previously been anticipated.

The
principal factors impacting the underlying and reported performance
across the group are weakness in print advertising, which has been most
evident across the financial titles and poor recruitment revenues.

The
board now expects to deliver modest profit growth for the current
financial year to 30 June 2013, relative to the adjusted profit before
tax of £8m reported last year.  “This is below market expectations,” the
statement added.
 
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Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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