Creston tackling debt problem

The proportion of revenue earned from digital and online customers is increasing at marketing group Creston.The company's revenue in the year ended 31 March 2009 dipped 4% to £80.5m from £83.8m, but the percentage of digital and online revenue rose to 31% from 28% the year before.Headline profit before tax fell more or less in line with revenues by 3% to £13.8m from £14.2m.Total debt was reduced by £16m, reducing the ratio of total debt to headline earnings before interest, tax, depreciation and amortisation (EBITDA) to 1.6 from 2.3 the year before. The company has bumped its full year dividend to 1p from 0.73p the year before.The new financial year has started in line with management's expectations. "We are currently ahead of the same period last year and have been boosted by a number of high profile new business wins," said Don Elgie, group chief executive.The company is proposing to get rid of its advertising subsidiary DLKW for £28m in cash. Conduit Hldg