Last checked at 20 Apr 2011 07:00
20 April 2011
Creston plc
Pre-Close Trading Statement
Creston plc ("Creston" or the "Group"; LSE: CRE), the Insight and Communications Group, provides an update on trading in advance of the preliminary results announcement for the year ended 31 March 2011.
In its 2011 financial year, the Group has performed in line with the Board's expectations driven by revenue growth on a continuing group basis of 11 per cent, or 7 per cent on a like-for-like basis, which represents a strong performance versus the sector. This growth has been driven by organic growth from existing clients, as well as some exciting new client wins.
The second half of the year reported growth in revenue, operating profit and margin compared to the first half and ended with a like-for-like revenue growth of 10 per cent in the final quarter.
The first three months' trading for the recently acquired Cooney/Waters and Alembic Health businesses has exceeded the Board's expectations, whilst their integration is making good progress under the newly appointed CFO.
Operating cash flow has been ahead of the Board's expectations, resulting in a broadly debt free position at the year end. At 18 April 2011 the Group had net cash of £2.6 million. This positive cash position is after paying the initial cash consideration of £5.9 million for Cooney/Waters and Alembic Health in December 2010.
Creston expects to announce its preliminary results for the year ended 31 March 2011 on Tuesday, 21 June 2011.
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Enquiries:
Creston plc | www.creston.com |
Don Elgie, Chief Executive | 020 7930 9757 |
Barrie Brien, COO/CFO | |
Sarah Macleod, Communications Director | |
Investec Bank Plc David Flin /Carlton Nelson |
020 7597 5970 |
NOTES TO EDITORS:
§ Publication quality photographs are available on 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, market research, direct and digital marketing, public relations, advertising and healthcare marketing to a broad range of blue-chip clients including: Astellas, AstraZeneca, Aviva, BMW, BT, Canon, COI Communications, Danone, Diageo, GlaxoSmithKline, HTC, Jaguar, Land Rover, Lexus, Nissan, Pfizer, Roche, Sainsbury's, Sanofi Pasteur, Sony Europe, Tesco, Toshiba, 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.