3068 CEN September 2018 Fully listed companies Company REFS - Really Essential Financial Statistics

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CENTAUR MEDIAEPIC: CAU

SECTOR: Media. ACTIVITIES: Centaur Media Plc is engaged inproviding business information, events and marketing solutions toprofessional and commercial markets..DIRS: Mr. N A Johnson OBE (ch)*, Ms. Andria Vidler (ceo), S Mukerji(cfo), Ms. Rebecca S Miskin*, Mr. R W Boyle*, C W Eccleshare*.HEAD & REG OFF: 79 Wells Street, Wells Point, London, W1T 3QN.Tel: +44 2079704000 REGISTRAR: Share Registrars LimitedBROKERS: Numis Securities Limited. AUDITORS:PricewaterhouseCoopers LLP.OUTLOOK: (12-Dec-17) Ann: ’...the board to deliver long-term valueto all of our stakeholders’.NEWSFLOW: (17-Mar-16) Ann: IRFocus has been appointed asFinancial PR Adviser to the company. (3-Aug-17) Ann: The companyannounces, further to the announcements on 7 July 2017 and 1 August2017, that the acquisition of MarketMakers Incorporated Ltd hascompleted, ahead of its expected completion date of 4 August 2017.This follows the successful completion of the disposal of its B2Cdivision, Home Interest, on 1 August 2017.. (18-Aug-17) Ann: Thecompany announces the launch of an Ords buyback programme, withthe objective of putting shares into treasury for use in meeting futureobligations arising from share-based rewards to employees. Theprogramme will involve the purchase of Ordss in the companyon-market up the value of 1.00m in total. Any purchase of Ordsseffected in relation to this announcement will be carried out on the LSEand executed in accordance with, and subject to limits prescribed by,the Listing Rules and in accordance with the authorisation granted tothe board by shareholders at the AGM held on 9 May 2017. It hasappointed Numis Securities Ltd to manage the programme on itsbehalf.. (29-Dec-17) Ann: The company has agreed with Estera Trust(Jersey) Ltd to carry out an Ords buyback programme, with theobjective of putting shares into the EBT for use in meeting futureobligations arising from share-based rewards to employees. Theprogramme will involve the purchase of Ordss in the companyon-market up to the value of 0.80m in total. Any purchase of Ordsseffected in relation to this announcement will be carried out on the LSEand executed in accordance with, and subject to limits prescribed by,the Listing Rules and in accordance with the authorisation granted tothe board by shareholders at the AGM held on 9 May 2017.BUY BACKS: (12-Dec-17) Ann: 2,500 Ords at 46.5p (Treasury).(13-Dec-17) Ann: 3,500 Ords at 48.0p (Treasury). (21-Dec-17) Ann:3,800 Ords at 46.0p (Treasury).

PRICE (NMS 5)3-SEP-18 44.9pmarket cap £64.9mposition 979thindex FTSE Fledgling

norm eps (pr) 3.94pturnover (17AR) £65.4mpretax (17AR) £–0.70m

smDY (pr) 6.68%

PER (pr) 11.4xPEG nafGR (pr) 73.3%ROCE 98.9%MARGIN 11.2%

GEAR –4.83%

PBV 0.76xPTBV –6.97xPCF 5.62xPSR 1.05xPRR nax

nav ps (16AR) 58.8pnet cash ps (16AR) 2.84p

ACTIVITIES ANALYSIS (16AR)

PrT/OMarketing 41%Professional 28%Home Interest 18%Financial Services 13%United Kingdom 82%North America 9%Europe (excl. UK) 6%Rest of World 4%

18year ended 31 Dec 2013 2014 2015 2016 2017 2018E 2019Eturnover £m 72.0 70.2 70.5 72.5 65.4depreciation £m 7.50 7.51 5.20 5.60 6.00int paid (net) £m 0.10 0.80 0.50 0.40 0.20IFRS3 pretax £m -37.4 7.51 -5.60 -4.40 -0.70norm pretax £m 7.10 0.80 7.30 4.90 8.60 6.46 7.35turnover ps £ 0.51 0.49 0.49 0.50 0.43op margin % 10.0 2.27 11.1 7.31 11.2ROCE % na na 289 na 98.9ROE % 6.46 0.30 7.78 5.74 25.6IFRS3 eps p -27.3 4.79 -4.80 -3.80 -3.80norm eps p 4.28 0.17 4.21 2.68 -0.06 3.40 4.20norm eps growth % +30.9 -96.1 +2436 -36.3 - - +23.5tax rate % -2.67 7.08 -23.2 -22.7 -114norm per x -782 13.2 10.7provisional peg fcash flow ps p 4.90 6.30 2.65 9.40 7.99capex ps p 3.12 3.03 2.30 1.81 1.95dividend ps p 2.33 2.74 2.80 3.00 3.00 3.00 3.00dps growth % +13.4 +17.9 +2.12 +7.14 - - -dividend yield % 6.68 6.32 6.32dividend cover x 1.85 0.07 1.50 0.91 5.09 1.13 1.40shrholders funds £m 81.6 86.8 76.4 67.1 84.9net borrowings £m 19.4 14.8 18.9 14.0 -4.10net curr assets £m -9.00 -6.60 -1.30 -6.10 -6.10ntav ps p -28.8 -16.1 -13.3 -15.0 -6.44

PRICE (p) 10p Ords vs FTSE All-Share vs norm eps14

7656

21.6x

15

8662

444x

16

7033.811.9x

17

5740.518.3x

18

5342.5

19 20140123

1059688797061

53

43.8

35

HIGHLOWAVE PER

RELATIVE %

1M +4.83M –6.06M –16.51Y –19.7

Beta rel –0.51

SHARE CAPITAL, HOLDINGS, DEALINGS

144m 10p Ords (Maj 76.0%, Dirs 1.43% [d]).Aberforth Partners LLP 23.4%Artemis Investment Mgmt LLP 15.8%IBIS Capital Partners LLP 7.16%Argos Funds 6.98%GV & JMH Sherren 5.73%Neil Johnson ( ) - dup +6100kMs. Andria Vidler (ceo) 1.25mSwagatam Mukerji (cfo) - dup +6569kMs. Rebecca S Miskin* 14.8kMr. R W Boyle* 117k

GEARING, COVER (17AR)

intangibles ExclInclnet gearing neg-4.83%cash neg4.83%gross gearing neg-%under 5 yrs neg-%under 1 yr neg-%quick ratio 0.11rcurrent ratio 0.20rinterest cover 44.0xKEY DATES

next AR year end 31-Dec-17year end 31-Dec-16prelim results 29-Mar-17agm 9-May-17fin xd (1.5p) 11-May-17int results 26-Jul-17int xd (1.5p) 31-Dec-17fin xd (1.5p) 31-Dec-17annual report 5-Apr-18next agm 9-May-18

2018 ESTIMATES 2019 ESTIMATES

Broker Date Rec Eps Dps Eps DpsPretax Pretaxp p p p£m £m

1 Consolidated Estimates.. 31-Jul-18 BUY 5.42 3.40 3.00 6.46 4.20 3.00Consensus 6.46 3.40 3.00 7.35 4.20 3.001m change +0.00 +0.00 +0.00 +0.783m change +0.00 +0.00 +0.00 +0.78