Creston PLC Interim Management Statement (8643I)
31 7월 2012 - 3:02PM
UK Regulatory
TIDMCRE
RNS Number : 8643I
Creston PLC
31 July 2012
31 July 2012
Creston plc
Interim Management Statement
Creston plc ('Creston' or the 'Group') (LSE: CRE), the Insight
and Communications Group, announces its interim management
statement for the period 1 April 2012 to date.
Trading update
For the three months to 30 June 2012 (the 'Period'), the Group
reported revenue growth of just over 1 per cent compared to the
same period last year. As anticipated, the decline in retained
revenues reported in the final quarter of the last financial year
has impacted the first three months of trading in the current
financial year, and as a consequence, like-for-like(1) revenue for
the first quarter was down just under 7 per cent, compared to the
same period in 2011.
Communications
The Group's largest division, Communications, has performed
broadly in line with the prior year in terms of first quarter
revenue. TMW, the Nelson Bostock Group and The Real Adventure have
all delivered growth in revenue with some significant new business
wins. This new business includes: TMW being appointed to work on
Sony Mobile's global social media strategy and winning projects
from new clients such as BBC Good Food; the Nelson Bostock Group
being hired by Cartoon Network; and The Real Adventure winning its
first global account for Danone Baby Nutrition, helping the team to
develop pioneering CRM strategies across Europe and beyond. EMO
experienced a decline in first quarter revenue compared to the same
prior year period due to the decline in retained revenues reported
at the end of the last financial year, however, it too is
experiencing an uplift in new business opportunities. The division
overall, with its good new business performance and pipeline, and a
full year effect of last year's cost reductions, is positioned for
another year of growth.
Health
The stabilisation of the healthcare sector has continued and the
division saw a small increase in like-for-like revenue during the
first three months compared to the prior year period. The division
is experiencing an increase in new business opportunities, winning
more work from new and existing clients and while structural reform
remains ongoing in the sector, the Group believes it is well placed
to benefit from the resulting opportunities.
Insight
As previously reported ICM's performance in the last financial
year has, as expected, continued to impact trading during the
Period. Significant cost reduction actions were undertaken at the
end of the last financial year and management will continue to
review the business closely to ensure costs remain aligned to
performance as revenue increases again. The wider division's focus
on developing further expertise in new research technologies and
digital platforms is creating good new business opportunities, and
our healthcare focussed start-up company has added three new
clients since the start of the new financial year.
Outlook
While on a like-for-like basis the Group has had a slower start
to the new financial year, primarily as a result of the previously
reported lower retained revenues at the end of the last financial
year, there have been encouraging new business wins and
opportunities across the Group.
The Board is pleased with the performance of its recent
acquisition The Corkery Group and expects a positive impact from
new client wins. However, we naturally remain cautious given the
macro environment.
For further information please contact:
Creston plc + 44 (0)20 7930 9757
Don Elgie, Group Chief Executive
Barrie Brien, COO/CFO
M:Communications +44 (0)20 7920 2339
Elly Williamson
About Creston plc
Creston plc (LSE: CRE) is a marketing services company focused
on insight-led communications. The Group delivers a range of
marketing services, including advertising, brand consultancy, CRM,
digital and direct marketing, health communications, local
marketing, market research, PR and social media marketing to a
broad spectrum of blue-chip global clients. Our insight companies
give us a real edge, providing the analytic intelligence to enable
us to truly understand, influence and inspire consumers and it's
that insight-led intelligence that drives our creativity.
www.creston.com
1 Excluding the results from any acquisitions made during the
current year, like-for-like compares current year performance to
the prior year, adjusting the current year to only include the
results of prior year acquisitions for the commensurate period of
ownership
This information is provided by RNS
The company news service from the London Stock Exchange
END
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