Better Quarter for Creston Group

UK insight and communications group Creston plc has issued an interim management statement for the last quarter of 2013, reporting an increase in headline profit (PBIT) and a levelling out of its revenue, which had dropped four percent in results for the previous six months.

Creston said growth in Headline PBIT was driven by a good improvement in operating profit margin, as well as revenue which rose one percent in absolute terms (and fell one percent like-for-like). The company reports a number of new business wins including some resulting from referrals linked to its recent co-location strategy.

The Insight division has been outperforming the rest of the Group of late - it grew revenue by ten percent to £6.1m and improved profitability in the six months to September 30th. Senior management of the division and the group itself is in a period of change, with the departure of Marketing Sciences leader and more recently Head of Creston Insight Keith Bates in December, and the announcements last month that CEO and founder Don Elgie (pictured) would retire and that former TNS CEO Pedro Ros is taking up newly created role of Head of Strategic Insight.

Creston says it 'remains cautious' about the near future due to the 'ongoing impact of the volatility in some of our clients' marketing budgets', but says continued growth in revenue and PBIT is expected in the last quarter, and the Board is 'comfortable that the full year results will be in line with market expectations.'

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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