Business
Pre-close Trading Statement
Pre-close Trading Statement.
About this update from Conduit Holdings Ltd.
[{"type":"text","content":"\n RNS Number : 7777Q Creston PLC 20 April 2009 \n \n 20 April 2009\nCreston plc \nPre-Close Trading Statement\n\nCreston plc (LSE: CRE), the Insight and Communications Group, provides an update on trading prior to entering its close period in advance of the preliminary results for the year ended 31 March 2009.\n\nIn the 2009 financial year, the Company has performed ahead of consensus forecasts for revenue (achieving 4% year-on-year growth), EBIT, EBITDA, earnings per share and had a lower net debt position. \n\nThis strong performance has been driven by an excellent new business performance that more than compensates for general market softness. Since the Interim Statement in November 2008, there have been a number of significant new business wins across the Group from both existing and new clients. These wins include Astellas, Boehringer Ingelheim, E-ON, GSK, Marie Curie Cancer Care, Panasonic, Spicers and Toyota. Net new business wins for the year will generate over £15 million in revenue (2008: £9 million). The Group continues to have a healthy pipeline of new business, especially in digital and on-line research. \n\nAll acquired Group companies have completed their earn-out periods by 31 March 2009 and the final deferred consideration, which can now be finalised and is no longer contingent upon future profit levels, will be detailed in the preliminary announcement and will be settled in December 2009 and June 2010. \n\nAt 31 March 2009, net debt was approximately £19 million having been reduced by over £12 million since September 2008, after a strong cash generating performance during the second half of the financial year. This reduction in net debt also follows the settlement of over £13 million deferred consideration in respect of DLKW.\n\nThe Group maintained tight management of its key performance indicators covering revenue and profit per head and operating profit margin. Consequently the Group ends the year with operating costs aligned to revenues forecast for the new financial year.\n\nCreston plc expects to announce its preliminary results for the year ended 31 March 2009 on Tuesday, 23 June 2009.\n\n-Ends- \n \nEnqu...