Last checked at 3 Feb 2011 07:00
3 February 2011
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 October 2010 to 2 February 2011.
Trading update
For the nine months to 31 December 2010, the Group reported like-for-like revenue growth of over 6%.
Following its excellent revenue growth in the first half, the Communications Division continued to record good growth in the third quarter, winning a global eCRM project from new client, Sony Ericsson, alongside new briefs from existing clients, including Danone and Tropicana. In addition to continuing the new business growth, the Communications Division is achieving its objective of improving the profit conversion and margin on the reported revenue growth.
The Health Division increased its rate of growth from the first half by winning a number of new briefs from current clients. In the period, the new consumer health start-up won a joint pitch with the Communications Division for the UK launch of Asanor, a new consumer healthcare product for snoring.
In the Insight Division, the focus has been on driving new business development and new product initiatives following the appointment of a new senior management team at ICM. In the new calendar year, there has been a notable increase in commissions at ICM. It has commenced a significant programme of consumer research for the recent new client Sainsbury's; the Electoral Reform Society, another new client, has commissioned a project to test voters' attitudes ahead of the forthcoming alternative vote referendum; and BT, an established client, has commissioned an extensive qualitative research study across Asia and North America.
Corporate development in the period
The acquisition of Cooney/Waters and Alembic Health Communications was approved by shareholders on 15 December and the acquisition completed on 20 December 2010. This acquisition extends the Health Division's international service of clients and provides an excellent platform to pitch for global projects. Since acquisition, the integration programme of Cooney/Waters and Alembic Health Communications into the Group has progressed well, trading has been in line with expectations and in January there was a successful joint new business pitch with our UK healthcare PR agency, Red Door Communications.
Outlook
The fourth quarter is traditionally Creston's strongest, and with positive momentum across the Group, management's expectations for the full year remain unchanged.
For further information, please contact:
Creston plc | 020 7930 9757 |
Don Elgie, Chief Executive | |
Barrie Brien, COO/CFO Sarah Macleod, Communications Director | |
www.creston.com |
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.