Creston Revenue Flat Despite Insight Revival

UK-based insight group Creston plc has issued a trading update covering the year ended 31st March 2013, ahead of full year results which are due on 12th June. Group revenue was flat at £75m, but Creston said the recovery in its Insight division continued during the second half.

Last June, the Insight arm reported a 7% drop in revenue to £13.8m, along with a halving of pre-tax profit to £2.1m - the poor performance was down to problems at ICM, while its other research firm Marketing Sciences had a solid year.

Creston says operating cash flow is ahead of Board expectations, and it expects to be in a net cash position of over £10 million at the year end. The Group saw the ending of a 20-year relationship with major client Sanofi Pasteur, but reported significant new business wins in the Communications and Health divisions. Among these, it expects the UK Government to become a top five client over the next three years.

Web site: www.creston.com .