Interim Management Statement

RNS Number : 3794L

Creston PLC

01 August 2011

 



                                                                                                                        1 August 2011

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 2011 to date.

Trading update

For the three months to 30 June 2011, the Group reported revenue growth of over 12 per cent. compared to the same period last year.

Like-for-like revenue growth for the first quarter was 2 per cent, compared to the same period in the prior year, which achieved a very strong 11 per cent. growth year on year.

The Insight division continued its recovery, delivering its strongest quarterly performance since the first quarter of the financial year 2011. The growth of existing and new clients such as Sainsbury's and Castrol, alongside being appointed to the BBC roster for the first time, adds momentum for the remainder of the year. The division is investing in its Insight Health proposition and is working closely with the Health division to maximise client opportunities.

The Communications division has begun the year strongly with a mixture of growth from existing clients and new business wins. As mentioned in the Preliminary Announcement on 21 June 2011, the Group launched Creston Unlimited, a brand consultancy, on 1 April and they have already won projects from existing group clients. NBC Hong Kong, a new start-up public relations offer, launches today and has already won its second pan-Asian client, having previously been appointed by HTC. Continuing the theme of organic start-ups, the Group has invested in a new local marketing health proposition, which combines EMO's local marketing expertise with that of the Health division in order to win new marketing mandates being created by the devolution of the NHS budgets. Lastly, the outcome of the previously highlighted re-tendering process by one of our top five client accounts remains outstanding, although fees are now confirmed until the end of September.

The Health division has been integral to the development of two new propositions within the Insight and Communications divisions, whilst in its own right winning some exciting new business, including an increasing number of global campaigns.  Despite a slower start for the division, we are delighted with the strengthened global PR capability we are now able to offer clients with Cooney/Waters added to the Group. 

Outlook

The Group entered the new year with positive momentum and the large new business opportunities currently being pitched for demonstrate the innovative offer that our companies have. There continues to be an increasing number of initiatives and client wins from working cohesively as one group and again this will add to the future growth.

Similar to previous years, the Group's financial performance in the current year will be weighted towards the second half and although management is cautious over the macro economic outlook, its current expectations for the full year remain unchanged.

Creston plc	020 7930 9757 www.creston.com
Don Elgie, Chief Executive
Barrie Brien, COO/CFO Elly Williams, M Communications

For further information, please contact:

(Like-for-like compares current year performance to prior year performance, excluding the results from any acquisitions.)

About Creston plc

Creston is a marketing services company focused on Insight and Communications. It offers clients more seamless access to the most innovative marketing insights and communications services to help grow their brands in a rapidly-changing consumer world.  Our companies draw upon the collective knowledge, expertise and services from across the Group, so that their clients receive the best advice and achieve the best results no matter what the medium.  By working together, whether on research or as full-scale marketing partners, our companies continuously innovate to make more things possible for their clients and people.

Creston companies offer a range of marketing services, such as advertising, direct and digital marketing, market research, public relations and healthcare marketing to a broad range of blue-chip clients.  

 

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