The SP on 31/12/2003 was £1.40. In the intervening 10yrs Mr Elgie has spent in the region of 18 million of shareholders money on acquisitions. Most of his shares have been awarded to him through generous option packages and I think the SP of 89p 10 years on says it all really.
Agree, I remain invested here for that reason - fwd revenues look good. I also like the look of: "New clients include Bentley, HSBC, Novartis, Reckitt Benckiser and Sony PlayStation." And p/e very low and div raised.
may be on the menu shortly, though ...EV/EBIT fairly tasty already imv; management experienced and CEO is definitely aligned with our interests (nearly £2m in shares, I think..pls check); and markets tough, competitive but some room for growth perhaps ...so 2- 2.5 Ms (out of 3) is Jolly OK ...aaoo/no advice intended
IMO Creston has become a "jam tomorrow" company and the jam never seems to land on the shareholders bread. It would appear Mr Elgie always keep enough for himself though! I have sold and would not consider re-investing unless the SP was south of 80p.
http://www.cityam.com/article/1385685954/creston-stumbles-marketing-wins-promise-better-second-half? Creston stumbles but marketing wins promise a better second half by Oliver Smith November 29, 2013, 12:45am MARKETING firm Creston reported a nearly 80 per cent slump in profits during the first half of the year yesterday, missing market expectations and causing the company’s share price to drop by over seven per cent. The drop was due to the firm’s US agency losing a key contract and Creston’s high level of pitching activity, which led to profits falling to £1.7m during the six months to 30 September. “The end result is that we’ve won £7.9m of new revenue in the first half. The downside of that is that we incurred a loss of billable time during that pitching process,” Creston chief executive Don Elgie told City A.M. “We took a hit on the chin to go for that new business… to see the benefits in the second half of the year.” Revenue for the group fell four per cent to £35.7m during the period, but analysts remained upbeat on Creston’s performance in digital. Liberum Capital media analyst Ian Whittaker described Creston’s booming digital business – accounting for 52 per cent of total revenues – as “structurally positioned for rapid growth.” Creston’s share price fell 7.3 per cent to 92p yesterday.
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