Last checked at 3 Feb 2010 07:00
Press Release 3 February 2010
Creston plc
Interim Management Statement
Creston plc (LSE: CRE), the Insight and Communications Group, announces its interim management statement for the period 1 October 2009 to 2 February 2010.
Trading
Like for like revenue for the third quarter is in line with the previous year's third quarter and is an improvement on the second quarter. This improvement has reduced the year to date revenue decline from the 6 per cent reported at the interims to just under 4 per cent for the nine months ending 31 December 2009.
The Group has continued to carefully manage its cost base and consequently maintained its Headline operating profit margin at a similar level to the 17 per cent reported in the interims. The operating cash flow remains healthy and we continue to reduce our debt.
Outlook
The new calendar year has begun well with new business wins from both new and existing clients and there are an encouraging number of new business opportunities. Clients' budgets are also showing a greater stability and visibility.
While we are encouraged by these positive signs, the economic climate remains challenging and we remain cautious in our planning. Therefore our expectations for the full year remain unchanged and we are currently trading in line with management's expectations.
For further information, please contact:
Creston plc | 020 7930 9757 |
Don Elgie, Chief Executive | |
Barrie Brien, COO/CFO | |
www.creston.com | |
| | |
Hogarth Partnership Limited | 020 7357 9477 |
Chris Matthews/Sarah Macleod/Anthony Arthur | |
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, Cow & Gate, Daily Mirror, Diageo, E-on, First Direct, GlaxoSmithKline, Halifax, Homeform, House of Fraser, Kimberly-Clark, Lexus, Lloyds Black Horse, Morrisons, NHS Lottery, Nissan, Opel, Pfizer, Roche Diagnostics, Royal Mail, SAB Miller, Sainsbury's, Tesco, Thorpe Park, Toshiba, Trinity Mirror, T-Mobile, Tropicana, Unilever, Vauxhall, Vodafone, Walkers and WH Smith.
§ Creston's share price is quoted in the Financial Times, The Daily Telegraph, The Times and the London Evening Standard.