Strong growth in exhibitions over the last four months has helped Centaur report a 14 per cent rise in revenues.
According to an interim management statement covering 1 July to 31 October 2012, group revenues showed double-digit growth year-on-year, while pre-tax earning margins benefitted by recent restructuring initiatives.
Key contributors were exhibition business and shows such as Employee Benefits Live, Aidex and the National Home Improvement Show, which all performed ahead of expectations. As previously reported in EN, the National Home Improvement Show claimed record numbers for visitor and exhibition attendance this year.
Centaur said exhibitions now accounted for 30 per cent of total revenues, up from 22 per cent on the same period last year. It also claimed to be generating good momentum by building a strong pipeline of event launches.
The company restructured into three core divisions last year: Events, Business Publishing and Business Information. While the Events and Information divisions are performing solidly, advertising revenues in the marketing, legal and financial communities remained weak. As a result, underlying revenue as a group declined by four per cent.
In its full-year report to 30 June, Centaur claimed to be on a growth trajectory led by strong rebookings across its core show portfolio.
“We have seen a significant improvement in our revenue profile and cost base at the start of the 2013 financial year, and the business has demonstrated strong momentum in growing its revenues from digital events,” chief executive Geoff Wilmot said.
“While trading conditions remain challenging in some markets, we are well placed to deliver further growth in 2013 and continue to make good progress towards our medium-term targets. We anticipate trading to be in line with our expectations for the current financial year.”
Source: Exhibition News