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NEWS22 March 2018

Cello Group reports 10.6% gross profit increase

Financials Healthcare News UK

UK – Healthcare and consumer strategic marketing business Cello Group saw revenue rise 2.4% to £169.3m and gross profit up 10.6% to £102.5m for the year ending 31 December 2017.

It also announced it is changing its name to Cello Health Group, to better reflect the strategic focus of the business.

Cello Health – which includes Cello Health Communications, Cello Health Insight and Cello Health Consulting – achieved like-for-like gross profit growth increased 9.2% at constant currency and it made two US acquisitions: Defined Health and Advantage Healthcare.

Cello Health Consumer was consolidated into these three core operations and the fourth pillar of Cello Health is now covered under Cello Signal, which includes its digital skills and consumer knowledge.

Cello Signal had a more challenging year with a 6.8% like-for-like constant currency decline in gross profit although operating margins were maintained at 9.5% ( 2016: 10.3%).

In terms of innovation, Cello Health Insight invested in launching Cello Health Logic – a data science and social analytics unit using its proprietary Pulsar technology. Pulsar ended 2017 with 346 clients, up from 257 in 2016.

Mark Scott, chief executive, said: "The group continues to make rapid strides in evolving into a global healthcare services business, with a particular focus on the US market. Signal is successfully migrating into a position to support Cello Health and healthcare clients with its digital and consumer marketing services. The current year has started well and the group is positioned for further expansion in healthcare in 2018 and beyond."

@RESEARCH LIVE

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