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Cello Shifts Focus, Stays 'Solid' Overall
In an interim trading statement, research group Cello has announced a 'solid' full year performance for 2011 and says its growing focus on the resilient pharmaceuticals sector is 'paying off'.
In a trading update, Cello said pharma had grown to more than 45% of the Group's research and consulting revenue, with above average growth and profit margins; and that international income was also buoyant, with the recent acquisition of MedErgy in US and the opening of offices in Singapore.
Cello also pointed to improvements in its cash and debt situation, and rapid growth in its social media and web based research offering, branded as eVillage (pharmaceuticals) and the e-luminate (non-pharmaceutical).
The Group's communications services business Tangible produced a flat performance in the face of 'a strong headwind' in the sector in the UK, helped by a strong social media research offering branded as Face.
Cello said that the loss of a major retail account, as announced in the previous quarter, had led to closures, headcount reduction and an exceptional charge of c.£0.9m but that this process was now complete.
Cello has annualised revenues in excess of £130m, gross profit in excess of £65m and employs over 700 staff. Web site: www.cellogroup.co.uk .
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