NEWS22 July 2010

Cello sees return of like-for-like income growth in research business

Financials UK

UK— Cello Group’s research and consulting business has returned to like-for-like income growth in the first half of 2010, according to a trading update.

Figures were not disclosed, but the company said the division had traded “strongly” with “continued robustness in core client activity level, most notably in pharmaceutical and health related sectors, as well as growing international revenues”.

Cello’s research and consulting companies include Insight Research Group, Leapfrog, The Value Engineers and RS Consulting.

Its Tangible response communications business saw a slight like-for-like decline in operating income during the first half but this was expected, Cello said, and was largely due to certain public sector clients not repeating their communications programmes.

The otherwise positive trading update follows the “solid recovery” in profitability reported in the first quarter after a “demanding” 2009, when research revenue fell 8% from to £59.8m and the group as a whole made a loss of £5.8m.

In other news today, Cello CEO Mark Scott (pictured) announced that Value Engineers chairman Paul Walton had been appointed to the group’s board of directors.