Cello Group Share Price (CLL)

New business wins included mandates from companies including Britvic, Glasgow 2014 Commonwealth Games, Coca-Cola, General Motors and HSBC. "Following the successful restructuring of the Group into Cello Health and Cello Consumer, good momentum in client bookings in the last quarter of 2012 puts the Group in good stead as we begin the new year," the statement said. "Although mindful of the challenging global outlook amongst multinational clients, the board is optimistic of a solid outcome for 2013."

Marketing firm Cello Group reported that 2012 trading had been in line with expectations and it was 'in good stead' as it went into the new year. The firm said its Cello Health division enjoyed an encouraging new business period in the last quarter of 2012, which provided confidence for the start to 2013. After a challenging first half to 2012, reflecting a marked slowdown in demand for insight services, its Cello Consumer arm enjoyed the anticipated recovery in activity in the second half. This resulted in the division delivering a full year headline performance in line with expectations, with a recovery of headline operating margins, the company said. Cello Consumer enjoyed "decent new business momentum" in the last quarter of 2012, which would underpin expectations for the business for 2013, the group added.

2,2% progress doesn't sound great. Anyone know how much of the growth came from the acquisition and what the like for like growth would be? Thanks all

Singer Capital maintained its "buy" rating for Cello Group (CLL) with an increased target price of 56p, from 48p. The broker said that the marketing company has seen a recovery in demand for its consumer business, following a difficult first half, with record bookings in August. Meanwhile, Singer noted that the company's health division remained strong. Forecasts for full year earnings put the shares on a prospective multiple of 6.7 times for 2012, falling to 6.2 times in 2013

Market insight and strategic marketing firm Cello posted a 2.8% to £63.3m (2011: £61.6m), gross profit up 7.2% to £31.7m (2011: £29.5m), headline profit before tax up 2.2% to £3.0m (2011: £2.9m), and statutory operating profit down £1.7m (2011: £2.4m). Growth was driven by the Health division as well as the effect of MedErgy joining the group last year. The interim dividend was increased by 5.5% to 0.58p (2011: 0.55p). Cash and equivalents fell from £5.1m to £1.2m.

The research and consulting division was a strong performer, while the group's focus on the pharmaceuticals research market, continues to pay off. Pharma is an area in which the group continues to expand, with a focus on international markets and particularly the US market where the group is planning to invest further. A 'notable improvement' in profitability was seen during the quarter, and the forward pipeline of work is 'solid', the firm said, adding the it remains optimistic that full year expectations will be met.