Creston Insight Revenue Pegged Back by Cuts

UK-based marcoms group Creston has reported a 2% decline in first half revenue for its Insight division - which it describes as a 'resilient performance' against a backdrop of government cuts which have affected both its research agencies, ICM and Marketing Sciences.

For the six months ended 30 September, revenue dropped to £7.7m from £7.8m in the same period last year.

However, during the period, Creston launched Inspired, a new brand which provides consumer-focused insight through joint qual and quant research capabilities drawn from across its Insight companies.

In addition, ICM recruited a new senior management team, to drive business development and initiatives in digital and online research. Led by former Kantar exec Justin Sampson as Chairman, this includes ex-Fieldwork International Healthcare MD Gareth Nicol as Managing Director, former Ipsos MORI retail and shopper head Nathan Bartlett and TNS consultant David Perry.

BT's former research head James Turner and Optimisa's former CEO Andrew Wiseman also joined ICM's Board during the period.

Creston says these appointments have had a short-term effect on the division's profit margin due to associated recruitment costs.

Group results were better: Creston as a whole reported a 9% increase in H1 revenue to £32.0m, which CEO Don Elgie described as 'a testament' to the abilities of staff to rise to the challenges of a weak economy.

'Our commitment to investing in start-ups and acquisitions is unwavering and we continue to enhance the propositions of our three divisions of Insight, Communications and Health, with a focus on the continued development of digital capabilities and international growth,' Elgie added. 'We are confident that following this period of investment our margins will return to historic levels, and we believe we are well positioned for the period ahead.'

Web site: www.creston.com .

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

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