Centaur Media - Business review underway

Centaur Media's full year results are broadly in line with January's trading update, with revenue from continuing operations down 6% on the prior year. Adjusted EBITDA came in slightly better than anticipated at £5.9m (guidance was £5.6m). Key brands The Lawyer and MiniMBA both performed well, growing revenues by 7% and 5% respectively, while other brands supplying the marketing services industry were more affected by broader macroeconomic factors. A £12m impairment charge has been taken against goodwill in the group's marketing services activities. The group's executive chairman is currently conducting a review of the business brands and units, and we would expect to see preliminary indications of conclusions by the time of the half-year results.

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