LONDON (Alliance News) - Marketing company Cello Group PLC Wednesday posted an increase in both profit and revenue for the first half of 2014, and said a robust first-half trading performance has left it well placed for the remainder of the year.
The company raised its interim dividend by 25% to 0.80 pence per share.
"This larger than expected increase reflects a rebalancing of the dividend towards a one third / two third split between the interim dividend and the final dividend," it said.
Cello reported a pretax profit of GBP3.4 million for the six months to June 30, compared with a GBP1.8 million profit in the first half of 2013, driven by a 9.4% increase in revenue to GBP78.3 million, up from GBP71.5 million a year earlier.
"Both Cello Health and Cello Signal have performed strongly during the first six months and the business continues to expand globally in line with its stated strategy. The board remains confident of meeting full year expectations," said Chief Executive Mark Scott in a statement.
The company said its Cello Signal business, which advises marketing clients, posted strong profit and revenue growth during the six month period, while its Cello Health business continues to grow as it expands in the US market.
Cello said operating cash flow was in line with expectations during the first-half and its balance sheet remains robust.
The company's stock was trading 2.3% higher Wednesday morning at 94.60 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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