Pre-Close Trading Statement

RNS Number : 4340K

Creston PLC

20 April 2010

 



20 April 2010

Creston plc

Pre-Close Trading Statement

Creston plc ("Creston" or the "Group"; LSE: CRE), the Insight and Communications Group, provides an update on trading in advance of the preliminary results announcement for the year ended 31 March 2010.

In its 2010 financial year, the Company performed marginally ahead of the Board's expectations of revenue, Headline EBITDA, Headline EBIT and for net debt.

Revenue declined by approximately 4% year-on-year, which was an out performance of the sector. This growth in market share has been driven by good momentum in business from existing and new blue chip clients, plus a contribution from our new start-ups, such as, mobile marketing and digital health.

Since the final acquisition earn-out periods all ended in March 2009, our three Divisions of Insight, Communications and Health have continued to work well together, sharing clients, evolving new product offerings and streamlining operational efficiencies within their respective divisions.

Total debt has been reduced in the financial year by almost £16 million to £25 million as at 31 March 2010. This is due to an improved working capital position and a strong cash conversion during the second half of the financial year. This reduction in total debt includes the settlement of all final deferred consideration liabilities.

Since the final deferred consideration liabilities have now been settled and the cash flow remains robust, it is the Board's intention to recommend a final dividend for shareholder approval.

As announced on 26 November 2009, David Grigson took over as Chairman of Creston plc on 1 April 2010 from David Marshall who remains on the Board as a Non-Executive Director.

Creston plc expects to announce its preliminary results for the year ended 31 March 2010 on Tuesday, 22 June 2010.

-Ends-

Enquiries:

Creston plc	www.creston.com
Don Elgie, Chief Executive	020 7930 9757
Barrie Brien, COO/CFO
M:Communications
Brigitte Trafford Elly Williamson Investec Bank Plc Erik Anderson/Carlton Nelson	020 7920 2387 020 7920 2339 020 7597 5970

NOTES TO EDITORS:

§  Publication quality photographs are available on www.creston.com.

About Creston plc

§  Creston is an Insight and Communications company for the 21^st century.  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, market research, direct and digital marketing, public relations, advertising and healthcare marketing to a broad range of blue-chip clients including: AstraZeneca, Aviva, Bayer, BMW, BT, Burger King, Canon, COI Communications, Cow & Gate, Diageo, E-on, First Direct, GlaxoSmithKline, Halifax, Homeform, Kimberly-Clark, Lexus, Lloyds Black Horse, Morrisons, Nissan, Pfizer, Roche, Royal Mail, SAB Miller, Sainsbury's, Tesco, Thorpe Park, Toshiba, Trinity Mirror, T-Mobile, Tropicana, Unilever, Vauxhall, Vodafone, Walkers and WH Smith.  

§  Creston's share price is quoted in the Financial Times, The Daily Telegraph, The Times and the London Evening Standard.

 

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