Centaur Media's Board has approved an interim ordinary dividend for 2024 of 0.6p per share (H1 2023: 0.6p), in line with Centaur's new progressive dividend policy to distribute the higher of the previous year's dividend or 40% of adjusted earnings after taxation.
Other financial highlights include:
- Revenue in H1 reduced by 8% to £16.5m, driven by challenging trading conditions within certain Xeim brands and sector headwinds relating to non-strategic revenue
- 90% of Group revenue derived from strategically valuable revenue, with good performances from the Group's future growth drivers, MW Mini MBA, Marketing Week subscriptions and The Lawyer
- Adjusted EBITDA decreased to £2.5m (H1 2023: £3.3m), delivering an adjusted EBITDA margin of 15% (H1 2023: 19%) reflecting the reduction in revenue and initial investment costs
- Net cash of £8.9m (H1 2023: £8.8m) with strong cash conversion of 102%
- Centaur well-placed to invest in organic growth and M&A, with a £10m undrawn RCF
- Ordinary dividend of 0.6 pence per share (H1 2023: 0.6 pence per share) under new progressive dividend policy
