Creston Trading in Line with Expectations

UK-based insight and communications group Creston has announced respectable results: like-for-like revenue for the third quarter is in line with the same period last year and an improvement on the second quarter.

Founded in 2001, Creston owns market research firms ICM, Marketing Sciences, Newvista Research, CML Research, and Fieldwork UK. In 2008, sensory panel company MSTS was integrated with product development specialist Marketing Sciences.

Last November, Creston reported an 8% drop in first half revenues for its Insight division, partly attributable to the underperformance of CML and MSTS.

The improvement announced today has reduced the year-to-date revenue decline from 6% to just under 4% for the nine months ending 31 December 2009.

During the period, Creston says it has continued to manage its cost base carefully, leading to a headline operating profit at a similar level to the 17% reported in its interims.

The firm has also won new business from both new and existing clients, and describes the number of new opportunities as 'encouraging'.

'Clients' budgets are showing a greater stability and visibility', the firm said in a statement. 'While we are encouraged by these positive signs, the economic climate remains challenging and we remain cautious in our planning.'

Creston's expectations for the full year remain unchanged and the company is currently trading in line with management forecasts.

Web site: www.creston.com .