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Strong Year for Cello Health
UK-based health and consumer marketing group Cello has reported 'strong trading' in an update for the year to 31st December 2014. The Health division reports double digit revenue growth and a strong business pipeline for 2015, while growth in the Signal consumer division is slower.
The group said Cello Health has maintained its 20 percent operating margins, with most of its growth coming from outside the UK, with the US prominent; and that the acquisitions of iS Healthcare Dynamics in May 2014 and Promedica in December 2014 have been beneficial, with its 'integrated proposition and capabilities ... resulting in the winning of a number of high profile contracts which the Group would not otherwise have secured'.
Signal achieved revenue growth 'against a tough comparator for the second half of 2013' driven by a one-off project. Investment in the Pulsar upgrade meant Signal saw a c.£0.4m headline operating loss on £1.2m of revenues. The division however enhanced its overseas presence with new offices in New York, Singapore and Hong Kong. Bookings momentum towards the end of 2014 gives a 'solid' platform for 2015. The group also flagged up an ongoing discussion 'between HMRC, The Direct Marketing Association and The Charity Tax Group' about VAT discrepancies for one of Signal's subsidiaries, which it says may reflect mistakes made 'in good faith' and may result in a liability of between £1 and £2m in the future.
Preliminary results will be announced on 19th March. Web sites: www.cellohealth.com and www.cellosignal.com .
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