NEWS30 November 2010

Creston insight revenue down 2% to £7.7m in first half

Financials UK

UK— Creston’s market research agencies ICM and Marketing Sciences saw revenue decline 2% to £7.7m in the six months ended 30 September.

The marketing services group described it as “a resilient performance against a backdrop of social and government budget cuts” which affected both businesses.

In the commercial world, Marketing Sciences won new global briefs from beverage firm Twinings and BP Castrol, while ICM won a “major contract” from retailer Sainbury’s.

Meanwhile, Creston said its new research brand Inspired, which offers joint qual and quant research capabilities and consumer-focused insight, is “already generating an income stream from existing clients”.

Headline profit in the insight division was down 8% to £2.2m, with the decline attributed to recruitment costs associated with the hiring of a new senior management team at ICM following the departure of company co-founder Nick Sparrow, ICM Research managing director Matthew Burn and director Gary Muncaster, and ICM Direct MD Patrick Diamond.

The new team includes ICM chairman Justin Sampson (pictured), board directors Andrew Wiseman and James Turner, and Gareth Nicol at ICM Direct.

Creston group revenue, including the communications and healthcare marketing businesses, was up 9% to £32m.