NEWS19 January 2010

Cello reports ‘marked pick up’ in MR business


UK— Cello has reported a “marked pick up” in its market research business in the second half of last year.

There has also been “continued strength” in its pharma research operation, the firm said.

Cello said the performance of its research businesses had been offset by “a challenging period” for parts of its marketing division, Tangible.

A group-wide cost reduction programme continued in the second half, with costs expected to be between £4m and £4.5m lower than in the previous year as a result of reduced headcount and property consolidation.

Group revenue after cost of sales is expected to be “in the region of £60m”, compared to £66.6m in 2008.

The firm plans to issue preliminary results for 2009 on 17 March.