UK biz publisher profit forecast cut

Posted by Uma Dixit on February 23, 2009 at 10:18 AM

Altium Securities Analyst Roddy Davidson has cut his profit outlook for business publisher Centaur in more than half, Press Gazette reported Monday.

Davidson lowered the profit forecast from £11.3 million to £4.7 million for 2009 after the publisher announced on Friday that its recruitment advertising revenues have dropped 66 percent.

Although the company is managing itself prudently, it cannot completely stave off the effects of a slumping market, putting it in an "awkward position," he said, according to Press Gazette.