Centaur is proposing a final dividend payment of 0.5p per share, payable on 29th May 2020. The Board was intending to propose the payment of another special dividend in May 2020 but has decided to defer this decision until there is more visibility around the impact of the coronavirus on the Group's cash flows.
Other financial highlights include:
Completion of disposal programme gave a profit on disposal of £7.8m and has created a simpler business with two divisions, Xeim focused on the marketing profession and The Lawyer focused on the legal profession
Revenues fell 3% to £48.9m as management exited loss-making activities within Xeim
Adjusted EBITDA grew by 24% at Xeim and 16% at The Lawyer
Annualised reduction of £5m of overhead costs run-rate achieved on schedule
Group adjusted EBITDA (pre-IFRS 16) increased to £2.6m (2018: £1.4m)
Net cash of £9.3m at 31 December 2019