Publishing group Centaur Media PLC (LON:CAU) said first-quarter profits were little changed year-on-year despite a 4% decline in revenue.
In a statement released ahead of its annual general meeting, the company said it is in a strong position to meet the board’s strategic priorities for the full year.
Centaur Media sells engineering titles to Mark Allen Group as profits climb https://t.co/3cq1o5VVPV pic.twitter.com/ujgyhA9VvC
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The company has been selling off parts of the business at pace and the current focus is on XEIM, its marketing division, which includes Marketing Week among its brands.
Negotiations for the sale of The Lawyer publication are continuing, it added.
"The board is pleased with the strategic progress and scale of the transformation that the team has achieved in recent months,” said Neil Johnson, the chairman of Centaur.
“The successful sale of four non-core businesses, at speed and in a challenging macro environment, has created a more focused group that is better placed to deliver value to shareholders. Our immediate priority is now all about Xeim and driving a higher margin,” he added.