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Excellent contract win for CRE's Nelson Bostock: http://www.marketingmagazine.co.uk/article/1184664/fever-brought-sony-crucial-playstation-4-launch "Fever brought in by Sony for crucial PlayStation 4 launch by John Owens, added 29 hours ago PlayStation 4: The new controller (Credit: Sony Computer Entertainment) Sony Computer Entertainment UK has appointed Fever ahead of the launch of its PlayStation 4 games console. Fever, which is part of the Nelson Bostock Group, was selected following a two-stage tender process that culminated in a three-way pitch. Its appointment on a retained basis comes ahead of the PlayStation 4 launch, scheduled for the end of 2013. It also follows Sony parting ways with John Doe, ending a relationship with the agency's founder Rana Reeves that started when he was at Jackie Cooper Public Relations (now JCPR) more than a decade ago. As well as aiding the launch of the console in the UK market, Fever’s responsibilities will include extending the appeal of PlayStation’s existing consoles, PlayStation 3 and PS VITA, including reaching out to new audiences, such as the family and casual gaming markets. Fever will also assist in the PR campaigns for software releases from Sony Computer Entertainment UK including Beyond: Two Souls, Rain, Puppeteer and Invizimals. The console was previewed earlier this year and is being seen as vital for the company, which posted a loss of £3.2bn in the last financial year. David Wilson, head of PR at Sony Computer Entertainment UK, said: ‘With the launch of PlayStation 4 on the horizon, this is arguably the most important time in PlayStation's history. With Fever, we feel we have an agency that understands our target consumers and can develop insight-led ideas that will resonate with the right people. We are confident its experience will help us push PlayStation to new heights.’ The account will be led by Bruce McLachlan and Frankie Oliver, joint MDs of Fever."
changed me mind...both showing az sells...
looks like a buy....
Here's a summary of the Reckitt contract win - and it just happens to be Havas who TMW will be working alongside..... :o)) Coincidence? Perhaps not.... http://www.thedrum.com/news/2013/04/19/reckitt-benckiser-uk-consolodates-digital-advertising-activity-tmw "19 April 2013 - 10:14am | posted by Stephen Lepitak | 0 comments Reckitt Benckiser UK consolodates digital advertising activity into TMW Reckitt Benckiser UK, one of Britain’s largest advertisers has appointed TMW to handle its digital advertising activity across its brand portfolio, including Finish, Vanish, Dettol and Nurofen. The appointment will see TMW work alongside Havas Worldwide as Reckit Benckiser consolidates its digital advertising activity. Jerome Lemaire, UK marketing director for Reckitt Benckiser commented: “As one of the UK’s major advertisers with some of the country’s best known brands, digital has become an increasingly important part of the overall marketing mix. Up to now we have used a variety of digital agencies across the brands and while this has resulted in the creation of some memorable and effective campaigns we felt the time was right to bring in one agency who could give us consistency across the portfolio.” He added that the appointment of TMW did not affect the position of Havas Worldwide as its lead agency in the UK."
The year end trading statement is out and is pretty good: http://www.investegate.co.uk/creston-plc--cre-/rns/trading-statement/201304220700078378C/ - core trading is in line with expectations, i.e probably 10-5p-11p EPS - net cash is over £10m! This against a £51m m/cap.... - the UK Government appointment more than offsets the Sanofi client loss in the USA, since this will now become a top 5 client - new acquisition is performing well - Insight division recovering nicely Overall then, CRE looks cheap at this level imho.
CRE get tipped as a prime takeover target. Interesting that he posits this purely on the basis of the fundamentals, with no mention of the Havas stake :o)) http://www.whatinvestment.co.uk/financial-news/shares-and-trading/2242483/fidelity-touts-three-takeover-targets.thtml "Fidelity touts three takeover targets Rob St George 18 Mar 2013 | News - Comment now" "Alex Wright, manager of the Fidelity UK Smaller Companies fund, opted for Creston (LON:CRE). This small-cap advertising agency boasts the merit of value: its shares trade on a forward price-to-earnings ratio of 3.6, which Wright described as ‘extraordinarily cheap’. He added: ‘It has strong positions in attractive niches such as social media and healthcare marketing, and as such could be seen as an attractive acquisition target for larger marketing and media groups.’"
During the period Creston scored a new social media account for Durex, the division's first Reckitt Benckiser brand. The group also achieved a partnership with Danacol, part of Danone, for a customer relationship management programme across France and Portugal and with EE and T-Mobile, the corporate and consumer public relations for Orange. In the company's health division, revenue and headline PBIT rose, thanks to the successful acquisition of The Corkery Group and DJM Digital Solutions. The Insight unit experienced a fall in revenues but a small headline PBIT increase as a result of the management action taken earlier in the year. "While we remain cautious in light of the macro-environment and on-going market volatility, the group is pleased with the integration of its latest acquisition, DJM Digital Solutions, and the number of new business opportunities it continues to see and convert across the wider business."
Insight and communications group Creston on Monday reported a rise in profits despite an eight per cent drop in like-for-like revenues for the last three months of 2012. Group revenue declined by 3.0% for the quarter and sales were flat for the year to date. Like-for-like sales dropped 7.0% for the year to date. However, profit before interest and tax (PBIT) grew during the quarter, driven by business from new and existing clients along with a headline PBIT improvement in the company's communications, health and insight divisions. The communications section increased its headline PBIT for the period even though revenues were down due to the termination of a client's budget. "The board remains focussed on replacing this lost revenue, but this will impact the division's (full year 2013) trading and as a consequence divisional revenue and headline PBIT for the full year is expected to be lower than the prior year," the company said in a statement.
Creston's like for like revenues were down. It's true their shares trade at a discount to the sector but the question is whether they are undervalued or likely to disappoint. I'm not convinced it's the first.
Outlook We are seeing good new business opportunities across the Group, which, combined with our focus on restoring the Insight division's margin, should lead to a second half improvement in our key operational performance indicators. Creston is continuing to focus on establishing itself as one of the leaders in providing digital marketing services, a position we will look to build on following today's announcement of the acquisition of digital healthcare agency DJM. While the market remains volatile on the back of continuing macro-economic pressures and we therefore naturally remain cautious, the Group will look to build on its first half revenue increase during its historically stronger second half. The Group's current new business pipeline is healthy and based on historic conversion levels, the Group expects to deliver full year Headline PBIT at around the prior year level.
Commenting on the results, Don Elgie, Group Chief Executive of Creston plc, said: "The Group has continued to increase revenue through the expansion of its international business, and the addition of some significant new clients and brands to its roster. "Many of these new business wins have a significant digital element and Creston is continuing to focus on establishing itself as one of the leaders in providing digital marketing services. This position has been further enhanced through the 8 per cent growth of our online and digital revenue, and today's announcement of the acquisition of digital healthcare agency DJM. "While the market remains volatile on the back of continuing macro-economic pressures and we therefore naturally remain cautious, the Group will look to build on its first half revenue increase during its historically stronger second half. The Group's current new business pipeline is healthy and based on historic conversion levels, the Group expects to deliver full year Headline PBIT at around the prior year level."
Corporate and Operational Highlights · Digital and online revenue up 8 per cent, representing 45 per cent of Group revenue (H1 2012: 42 per cent) · Continued focus on digital marketing with today's acquisition of digital healthcare agency DJM Digital Solutions Ltd ('DJM') post Period end · International revenue increased by 35 per cent, and now represents 35 per cent of Group revenue (H1 2012: 26 per cent) · Net new business of £3.1 million in annualised revenue (H1 2012: £2.6 million) · Solid performance by the Communications division, reporting growth in Headline PBIT5 of 8 per cent driven by an improving margin · Health division benefiting from successful integration of The Corkery Group into the New York office · A slower Insight division margin recovery against a tough industry backdrop, despite stabilised revenues
Half year results for the six months to 30 September 2012 Creston plc (LSE: CRE), the Insight and Communications group, today announces its half year results for the six months to 30 September 2012 ('the Period'). Group Financial Highlights · Revenue up 2 per cent to £37.2 million (H1 2012: £36.5 million) · Headline1 EBITDA2of £5.4 million (H1 2012: £5.5 million) · Headline PBT3of £4.4 million (H1 2012: £4.8 million) · Headline DEPS4 up 32 per cent to 7.44 pence (H1 2012: 5.63 pence) per share · Half year dividend per share increased by 20 per cent to 1.00 pence (H1 2012: 0.83 pence)
When are Creston due to announce next news of performance? All quiet since news of decline in retained revenues doesn't feel encouraging
Any new news on Creston....? Nothing posted since August...someone must have some information on how the company is performing...? Are Havas looking to take over....?
http://www.ft.com/cms/s/0/520426a0-e204-11e1-8e9d-00144feab49a.html#axzz23PP2QDu7 "In a separate development, French advertising giant Havas just took a 6 per cent stake in marketing services group Creston (CRE). Several factors lead me to believe Havas will soon bid for the entire company. Havas is struggling because of its significant exposure to the very weak European advertising market. Another problem is that it has a small presence in the fast growing digital marketing segment. The company recognises that it could become a take-over target unless it grows. It recently told the Financial Times that it plans to protect itself by making acquisitions and broadening its reach in the digital space. Creston is the perfect target for Havas. It is small and affordable. Its digital and online operations account for 41 per cent of company revenues. What especially interests me is that Creston’s price/earnings ratio is currently under six versus a sector average of almost 13. There is potential for a huge share price bounce even if Havas does not acquire it."
Singer Capital reiterated its "buy" recommendation for Creston (CRE) with an 80p target price. The broker said that French advertising group Havas has acquired a 5.18% stake in the marketing advisory firm, which likely to lead to speculation over a possible takeover bid. Singer noted that the marketing sector is in good health, with large companies looking to invest their cash. On the broker's forecasts, the shares trade on an EV/EBITDA multiple of 3.6 times, which it claims is half average price of larger peers. The shares flew up by 5.25p to 75.63p.
Creston, the market research and communications company, says a decline in 'retained revenues' has pulled down its like-for-like (LFL) performance. In the firm's first quarter, which began on April 1st, LFL revenue fell 7% on the same period of last year. Creston says the decline is down to the loss of repeat business in the final quarter of last year. Across the various divisions, Communications performed "broadly in line with the prior year", Health was marginally up as the sector stabilised following a very difficult period. The Insight unit, which includes the ICM Research business, "has continued to impact trading". Rather ominously, today's update says: "management will continue to review the business closely".
http://www.dentsu.com/gold/disclosure/pdf/en/Conference_201207122200.pdf
Looking good for blast off. Way undervalued
Price rising and all buys today -- apart from the shares being sold hourly at 14.59 past each hour at 159 or 160 shares alternately . What's all that about? -------- anyone? Been constant over past few days.
3 mill trade...wow,pocket money to sum,eh..lol...
Singer Capital retained its "buy" rating for Creston (CRE) with an increased target price of 80p, from 75p. The communications group met the broker's 2012 full year targets, with a higher than expected dividend of 3.5p. Singer is encouraged by the firm's growing international exposure, accounting for 30% of revenues, compared to 25% in 2011, and believes that this will increase further as the Corkery acquisition is integrated. The shares were unchanged at 54p.
Creston recommended a final dividend of 2.67p per share compared to 2.25p previously, giving a total dividend of 3.50p, up from 3p a year earlier. "With our cash generative businesses, a full year contribution from our recent acquisition and a good new business pipeline, the group is positioned for profitable growth," it added.