Business
Pre Close statement
Pre Close statement.
About this update from Conduit Holdings Ltd.
[{"type":"text","content":"\n Creston PLC\n21 April 2008\n\n\n21 April 2008\n\n Creston plc\n\n Pre-Close Trading Statement\n\n\nCreston plc (LSE: CRE), the Insight and Communications Group, provides an update\non trading prior to entering its close period in advance of the results for the\nyear ended 31 March 2008.\n\n\nThe Board is pleased to announce that, in the 2008 financial year, the Company\nperformed in line with expectations, delivering revenue growth across the\nbusiness. Revenue in 2008 increased by approximately 16% year-on-year, or 8% on\na like-for-like basis.\n\n\nTwo Creston companies, CML Research and DLKW, completed their earn-outs on 31\nMarch 2008 and the final deferred consideration payment for DLKW will be\nsatisfied in December this year. The Board has agreed long-term incentive\nschemes with the key management at both agencies, all of whom remain committed\nto the Group and are fully incentivised to deliver future growth.\n\nBy 31 March 2008, net debt had been reduced to £18m after a strong cash\nperformance during the second half.\n\n\nSince the Interim Statement in November 2007, there have been a number of\nsignificant new business wins across the Group from both existing and new\nclients, which include: Amazon, Britvic, Chessington World of Adventures, Cobra\nBeer, Disney, Dubai Holdings, First Direct, Genus, Gordon's Gin, Healthspan,\nIpsen, LMG Connections, MTV, Opel Insignia, Radox and SAB Miller.\n\n\nThe Group has a healthy pipeline of new business across both the Insight and\nCommunications divisions, especially in digital and on-line. Therefore, despite\nthe uncertain general economic outlook, the Board remains confident that Creston\nwill continue to build on the 2008 financial year's success in the current year.\n\n\nCreston plc expects to announce its preliminary results for the year ended 31\nMarch 2008 on Tuesday 24 June 2008.\n\n -Ends-\n\n\nEnquiries:\n\nCreston plc www.creston.com\nDon Elgie, Chief Executive 020 7930 9757\nBarrie Brien, COO/CFO\n\nHogarth Partnership Limited 020 7357 9477\nChris Matthews / Sarah Macleod /\nSarah Richardson\nInvestec Bank (UK) Limited 020 7597 5145\nErik Anderson/Ben Poynter\n\n\n\nNOTES TO EDITORS:\n\n\n• Publication quality photographs are available through Hogarth\non the numbers shown above.\n\nAbout Creston plc\n\n• Since its inception in 2001, Creston has brought 10 le...