Creston PLC Q3 Interim Management Statement (8342D)
03 2월 2015 - 4:00PM
UK Regulatory
TIDMCRE
RNS Number : 8342D
Creston PLC
03 February 2015
Creston plc
Interim Management Statement
Creston plc ('Creston' or the 'Group') (LSE: CRE), the marketing
communications group, today announces its interim management
statement for 1 October 2014 to date.
Following an encouraging H1 in which revenues grew 5 per cent,
growth in the three months to 31 December 2014 was lower, with
Group revenue up 1 per cent on the prior period giving rise to
year-on-year growth of 3 per cent for the year-to-date (4 per cent
on a constant currency basis).
Our Communications & Insight division continued to perform
well. Our third quarter revenue performance was as a result of some
client budget cuts and project delays within the UK health
business, which will also affect the Group's final quarter revenue.
As a consequence the Board expects full year Group revenue growth,
but for it to be lower than expectations.
Operating costs have been reduced and, based on current trading,
the Board expects Group Headline PBT for the full year to be
broadly in line with market expectations. With a lower effective
tax rate than anticipated, Headline Diluted EPS is expected to be
in line with market expectations.
New Business and Strategy
The Group continues to achieve new business success, winning
high profile brands such as Mclaren and Superfast Broadband, with
post period wins including Vue, Barilla and La Roche-Posay. It has
also expanded its work for existing clients such as Sony Mobile and
Novartis.
The repositioning of Creston as a full service agency group of
specialists, following the launch in November 2014 of Creston
Unlimited and the Unlimited rebrand of Group companies, has been
well received by clients, intermediaries and prospective partners.
There has been good external interest in our expanded Creston
Unlimited offer with an encouraging level of multi-agency new
business pitches. Creston Unlimited is also working well with its
new international partner, Serviceplan, and together we are
pitching for a growing number of international opportunities.
As previously acknowledged, digital work by its nature can lead
to variability in annual income over the course of a client
relationship. The Board therefore continues to pursue its strategy
of broadening the Group's offer from pure marketing execution
services to include consultancy led marketing advice. This should
lead to greater pipeline visibility and more long term retained
instructions.
Outlook
While the marketing services sector remains vulnerable to the
impact of macro-economic events and their potential to affect our
clients' budgets in the FY15 final quarter, the Board is confident
that the Group, with its new management, strengthened Creston
Unlimited offer and first-rate blue chip client relationships, is
well-placed to deliver long-term growth.
-ends-
For further information please contact:
Creston plc + 44 (0)20 7930 9757
Barrie Brien, Group Chief Executive
Kathryn Herrick, Chief Financial
Officer
Bell Pottinger +44 (0)20 3772 2491
Elly Williamson/Lucy Stewart
About Creston plc
Creston plc (LSE: CRE), incorporating the Creston Unlimited
group offer, is a marketing communications group delivering a range
of digital technology-based marketing solutions to blue-chip global
clients. Encompassing consultants and discipline experts from
across the industry and beyond, Creston Unlimited unlocks the power
of creative collaboration to realise the opportunities that exist
for brands and businesses in today's rapidly evolving world.
www.creston.com / www.creston-unlimited.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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