NEWS14 May 2013

Cello to announce robust trading at AGM

Financials People UK

UK — Cello Group will say it has had “robust trading so far this year” at its AGM this afternoon.

In a statement ahead of its AGM, the company said that the continuing good performance of Cello Health and the continued recovery of Cello Consumer contributed to its “robust trading” so far this year.

Cello Health saw strong activity, especially in the US where it is to open an office in Chicago and has sold several E-Village contracts and a successful start to the IQ quantitative research line leading to wins worth over £1m of gross profit, the company noted.

Cello also announced that its consumer segment is trading much more strongly that the same period last year “reflecting the improved focus of the business and the securing of a number of larger contract wins’.

Cello Consumer saw an improvement in the retained income profile with the consumer research business winning eight quantitative tracker studies with a combined annual gross profit of around £0.9m.

In addition, its social media tracking software, Pulsar TRAC, has retained contracts with telecom provider o2, a major bank and used on a project contract basis by a large US retail and two global FMCG companies. As a result, annualised contracted revenues for Pulsar TRAC are approaching £1m, the company said.

Cello chairman Allan Rich (pictured) will tell the AGM: “The group has seen robust trading so far this year, reflecting the continued good performance of Cello Health and the continued strong recovery of Cello Consumer.”

The AGM will also see the appointment of Stephen Highley to the board as group corporate development director.

Former chairman of Cello Health, Highley also is a co-founder of strategy consulting firm MSI which was acquired by Cello in 2007.