Daily Research News Online

The global MR industry's daily paper since 2000

Cello Reports Profit Rise and Names New COO

March 19 2015

UK-based health and consumer marketing group Cello has reported a 9.9% rise in 2014 headline operating profit before tax to £81.0m, on revenues up 6.4% to £169.9m. The group has also appointed a new COO.

Stephen HighleyStatutory profit before tax was £3.8m (2013: £5.5m) after the impact of acquisition related costs of £1.3m (2013: £0.8m); restructuring costs of £0.5m (2013: £0.5m); amortisation of £1.0m (2013: £1.2m); start-up losses of £0.4m (2013: £0.4m); and the provision for £2.1m following an HMRC review into some of Cello Signals activity in the charities sector. During the year, the group invested £0.4m in start-up activity in new client offerings at both Cello Health and Cello Signal and also in new overseas offices, and these activities contributed £1.5m of gross profit in 2014.

By division, Cello Health - which includes MedErgy Health Group, iS Healthcare Dynamics and Promedica - saw gross profit increase 12.2% to £39.9m, and headline operating profit up 12.0% to £8.5m.

Gross profit at Cello Signal - which comprises 2CV, blonde digital, Brightsource, Face, The Leith Agency, Leithal Thinking, Opticomm, Stripe Communications, tangible and TMI - grew 4.2% to £39.5m, while headline operating profit fell 11.45% to £3.4m.

CEO Mark Scott comments: '2014 was a critical year in establishing Cello Health as an integrated global player in the pharma space under a single brand and operating structure. We have been very pleased with the positive impact this has had on our ability to compete for and win large integrated contracts on a global scale. It also underpins our ability to continue our rapid expansion in the core US marketplace which is key to our growth strategy.'

Separately, Cello Health Chairman Stephen Highley (pictured) has moved into the role of Chief Operating Officer of Cello Group, to assist the senior team with its global expansion strategy. Highley has been in his current role since 2011, having previously spent more than seventeen years at The MSI Consultancy, latterly as MD.

Web site: www.cellogroup.co.uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

Select a region below...
View all recent news
for UK
UK
USA
View all recent news
for USA
View all recent news
for Asia
Asia
Australia
View all recent news
for Australia

REGISTER FOR NEWS EMAILS

To receive (free) news headlines by email, please register online