NEWS12 June 2013

Creston insights division sees 2013 revenue drop

Financials UK

UK — Insight and communications group Creston saw revenues in its insight division decline by 13% in the financial year ending 31 March 2013.

According to its final results, revenue for 2013 was £12.1m, a £1.7m drop on the previous year – although the company said this was not like-for-like as there were no acquisitions during the financial year.

Revenues from digital and online increased by 10% to 45% of earnings, however, headline PBIT fell £1.3m to £1.4m with a 12% PBIT margin compared with 15% in 2012.

In the financial statement, the group said that despite the “continuing tough environment” for market research services, the division saw a “marked recovery” in its financial performance during the second half of the financial year.

The statement continued: “This was as a direct result of the cost reductions and structural changes implemented at ICM since FY12, together with the division’s improving turnover and revenue.”

As a whole, revenues increased slightly to £75.2m from £74.9m in 2012 while group headline EBITDA increases by 2% to £12m.

Creston group chief executive Don Elgie said: “The group delivered a solid performance overall, despite the difficult macroeconomic environment.”