Creston Insight Arm Reports 3% Decline

UK-based group Creston Plc has announced results for the six-month period to 30 September 2011. While the group as a whole prospered, the Insight division - which includes the firms Marketing Sciences and ICM - saw year-on-year revenue decline 3% to £7.5m.

Founded in 2001, Creston comprises three divisions: Insight, Communications and Health. Overall for the group, revenue increased 14% to £36.5m for the period, compared with £32.0m last year, while headline PBIT (profit before finance income, finance costs and taxation) rose 13%.

However, the Insight division's contribution to group revenue fell to 20% in H1 2012, from 24% in H1 2011, while headline PBIT was £1.7m compared with £2.2m in the period to 30 September 2010. CEO Don Elgie said the PBIT decline reflects ongoing investment in the division as well as the reduction in revenue. Elgie said the performance was 'robust' in the light of the MRS' reported 8% contraction in UK commissions for the six months to September.

'We believe that the growth potential of our Insight division remains positive. Led by the new divisional management team, we are looking to build market share through strategic growth initiatives, including increasing our international work and product development,' Elgie said.

Creston's Communications division, which accounted for 58% of the group's revenue at the half year, grew 6% to £21.0m, while its headline PBIT was up 24% to £2.9m; and the Health division reported a 78% revenue rise to £8.0m, with headline PBIT up 45% to £1.8m.

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.

• ICM Unlimited
• All news
• MrWeb info