NEWS30 April 2012

Creston expecting full-year revenue rise

Financials UK

UK— Insights and communications group Creston expects to report revenue of £75m, an 11% increase, for the year ending 31 March 2012, according to a trading statement released today.

Like-for-like revenue will be “marginally ahead”, the firm said. It has now completed the “necessary actions” to reduce operating costs following the lower-than-expected sales reported in the third quarter. Actions taken include staff cuts and reductions in property costs.

Operating cash flow “remains good” and Creston said it expects to be “broadly” debt free at the year-end and in a net cash position from 27 April – which are both ahead of expectations.

Creston will announce its full preliminary results in mid-June.