Last checked at 26 Jul 2010 07:00
Press Release 26 July 2010
Creston plc
Interim Management Statement
Creston plc ("Creston" or the "Group") (LSE: CRE), the Insight and Communications Group, announces its interim management statement for the period 1 April 2010 to 25 July 2010.
Trading
As announced in Creston's preliminary statement on 28 June 2010 the Group has started the new financial year positively. The continuing Group post the disposal of DLKW Group on 14 July 2010 has delivered like-for-like revenue growth of 11 per cent for the 3 month period to 30 June 2010. This compares favourably to the 6 per cent like-for-like revenue decline reported for the comparable quarter of 2009 and the 4 per cent revenue decline reported for the financial year ending 31 March 2010.
The positive start to the new financial year has been driven by a number of new business wins including Astellas, Guinness, GSK, Shire Pharmaceuticals, Smith & Nephew, Sony Professional Services and ViiV.
Balance Sheet
Following the disposal of DLKW the Group had a positive cash balance of over £1 million on 14 July 2010 and access to an unutilised bank facility of £25 million.
Outlook
As a result of the first quarter growth in like-for-like revenue, demonstrating the quality and resilience of the continuing Group, and the momentum in new business wins, trading continues in line with management's and market expectations.
For further information, please contact:
Creston plc | 020 7930 9757 |
Don Elgie, Chief Executive | |
Barrie Brien, COO/CFO | |
www.creston.com | |
| | |
M:Communications | |
Elly Williamson | 020 7920 2339 |
About Creston plc
§ Creston is an Insight and Communications company for the 21st century. It offers clients more seamless access to the most innovative marketing insights and communications services to help grow their brands in a rapidly-changing consumer world. Our companies draw upon the collective knowledge, expertise and services from across-the-Group, so that their clients receive the best advice and achieve the best results no matter what the medium. By working together, whether on research or as full-scale marketing partners, our companies continuously innovate to make more things possible for their clients and people.
§ Creston companies offer a range of marketing services, such as advertising, direct and digital marketing, market research, public relations and healthcare marketing to a broad range of blue-chip clients including: Amazon, AstraZeneca, Aviva, Bayer, BMW, BT, Burger King, Canon, COI Communications, Danone, Diageo, First Direct, GlaxoSmithKline, HTCJaguar, Kimberly-Clark, Land Rover, Lexus, Lloyds Black Horse, Nissan, O2, Pfizer, RocheDiagnostics, Royal Mail, Sainsbury's, Tesco, Thorpe Park, Toshiba, Toyota, T-Mobile, Tropicana, Unilever, Vodafone and Walkers.
§ Creston's share price is quoted in the Financial Times, The Daily Telegraph, The Times and the London Evening Standard.