Cello Group Revenue Flat But Insight Profits Rise

UK-based healthcare advisory group Cello Health has reported flat group revenue of £78.5m for the six month period to 30th June (down from £78.7m in 2017). However, the group's Consulting and Insight capabilities grew like-for-like gross profit by more than 10.0%.

Consumer insight / marketing business Cello Group was renamed Cello Health Group plc earlier this year, better reflecting the strategic focus of the business according to CEO Mark Scott (pictured). The group is made up of Communications, Consulting and Insight brands. Cello Health Insight in the UK had a 'very strong' first half, with the delivery of 'record levels of bookings' from the prior year. The group says this level of activity has now normalised in the second half, with some slowing of bookings as a consequence of the new GDPR regime coming into force.

Overall for the group, gross profit rose 3.9% to £51.0m; reported like-for-like gross profit growth was 0.4%; and headline pre-tax profit was £5.1m (2017: £4.6m). The group also announced that on the back of US growth, it will be opening a central Philadelphia office to complement the existing hub office in Yardley, PA; and a permanent office in Boston is also scheduled to open shortly.

Scott (pictured) comments: 'Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post launch franchise with pharmaceutical clients. The leadership team is actively engaged with increasing the size of the global service platform, including Signal's communications capabilities. Signal, and particularly Pulsar, is rapidly building its healthcare franchise. The vision of developing Cello Health into a leading global advisor to healthcare and related clients is taking shape'.

Web site: www.cellohealthplc.com .

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