Integration boosts online growth at Creston
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UK-- Marketing services group Creston has reported a 16% revenue rise in its 2007-08 financial year. Like-for-like revenue, adjusted for the impact of acquisitions made in the previous financial year, was up 8%.
The group, which owns MR agencies CML, ICM and Marketing Sciences, said in a statement that it has a “healthy pipeline” of new online business, which CEO Don Elgie said was partly down to the integration of the group's online research capabilities.
Elgie also told Research the firm has no plans to reinstate its US presence any time soon – having closed its New York office earlier this year. The decision came after plans to chase acquisitions worth up to $100m in the US were put on hold amid economic uncertainty.
Elgie said: “The New York office is closed, period. One has to accept that the market sentiment is very anti.”
The firm said in a statement that it was confident it will continue to build on its success this year, “despite the uncertain general economic outlook”.
Preliminary results for the year ended 31 March 2008 are due to be released on 24 June.
Author: Robert Bain
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