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Cello says 2015 trading in line; new year has started well

Wed, 27th Jan 2016 12:15

(ShareCast News) - Health and consumer strategic marketing company Cello Group said trading in the year ended 31 December 2015 was good, with revenue and profit in line with market expectations.The group said its health division maintained good like-for-like revenue growth and a competitive profit margin as it benefited from trading as a unified business under its global client-facing brand and good US growth.Cello Health Insight, Cello Health Consulting and Cello Health Communications maintained strong like-for-like revenue growth with "very competitive" overall operating profit margin.Cello Health Consumer, however, experienced a slower year, as revenue and profit slipped on the back of project deferrals.Cello said good progress was made in developing the new biotech client base, to complement the core pharmaceutical revenue base of the business, on the West Coast of the US with key client wins during the year.The company said net debt at year end was less than £5m, reflecting solid cash flow conversion for the period.Cello said it has kicked off 2016 with good bookings momentum from the last quarter of 2015, expressing confidence over the year ahead.Finally, it said negotiations were ongoing with HMRC regarding potential VAT on work for UK charities."The group and its advisers continue to believe that its current provision for VAT and associated expenses of £3.2m is appropriate. Whilst progress has been made with HMRC on this issue, it has as yet not been concluded. The provision made is before any client recovery of input VAT."At 1224 GMT, Cello shares were up 0.4% to 80.80p.
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UK MORNING BRIEFING: Taylor Wimpey Leads Strong FTSE 250

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25 Apr 2014 08:54

Cello Acquires Edinburgh-Based Digital Agency Line Digital Ltd

LONDON (Alliance News) - Marketing firm Cello Group PLC Friday said it has acquired Edinburgh-based digital agency Line Digital Ltd to boost its Cello Signal business. The company did not disclose any financial details regarding the transaction. Line Digital specialises in web design

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25 Apr 2014 07:41

Cello Group acquires Line Digital

Marketing firm Cello Group announced it has acquired web design company Line Digital in order to reinforce its digital capability. The Edinburgh-based agency, which specialises in online marketing, provides for clients such as Standard Life, Tesco Bank, Travel Corp and Edinburgh Fringe. The group h

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31 Mar 2014 10:41

Monday broker round-up UPDATE

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20 Mar 2014 12:49

Cello Group Sees 2013 Profit Increase

LONDON (Alliance News) - Cello Group PLC Thursday reported an increase in profit and revenue for the full-year, reflecting a strong performance across the business. The marketing consultancy group posted pretax profit of GBP5.5 million for 2013, up from GBP1.4 million, as revenue rose 18.2%

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20 Mar 2014 08:34

UK MORNING BRIEFING: Shares Open Lower On Yellen Rates Comment

LONDON (Alliance News) - Shares have opened lower Thursday, as markets around the world react to Fed Chair Janet Yellen's hint of an earlier-than-expected rise in US interest rates. The CEO of handbag firm Mulberry has stepped down after only two years in the job.

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