Centaur monthly business magazine could close - Press Gazette

Centaur monthly business magazine could close

Public Private Finance magazine could close, with up to five jobs in question, publisher Centaur Media confirmed today.

The magazine, which has a 1,500 monthly print run, is read by those involved in public-private finance building projects. Subscriptions start at £650.

‘I can confirm there is a consultation going on and Public Private Finance is under review,’said Dan King, the group publisher.

‘We are exploring the possibility of closing the magazine, and also looking at continuing the website.

‘It has been under review for some time, and we are consulting with staff affected – but no decision has been made yet.”

In a trading update, Centaur announced today that its profits were on track – despite the economic downturn.

The company said: ‘Trading conditions in the first half of this financial year have been difficult and since then, we have experienced some further deterioration in trading during November and December.

‘However as a result of cost savings we expect our profits in the first half of the financial year to be in line with the board’s expectations.”

The company made a pre-tax profit of £14.5m in 2007/08, from £90.4m revenue.

Centaur’s portfolio includes 10 weekly and fortnightly magazines, including Marketing Week and The Lawyer.

Its share price – which was 75p in September – was 36p at lunchtime today.