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NEWS11 June 2014

Creston insights division sees 2014 revenue growth

Financials UK

UK — Insight and communications group Creston has seen its insight division revenues grow in the financial year ending 31 March 2014.

Revenue for 2014 was £12.9m, a 7% increase from £12.1m recorded in 2013. The insight division is made up of Marketing Sciences and ICM.

Revenue for the Creston Group was down from £75.2m to £74.9m, and headline PBIT fell from £10.2m to £9.8m. While revenue from international fell from 35% to 32%, revenue from digital and online rose from 48% to 53%.

Former group chief executive Don Elgie retired from the Group at year end, replaced by Barrie Brien (pictured); and non-executive chairman David Grigson will be stepping down from the board on 8 September 2014, to be replaced by Richard Huntingford. A new CFO, Kathryn Herrick, is also to start on 1 July 2014.

Brien said: “It has been a year of good progress, despite challenges with client budget volatility at the beginning of the financial year.

Having stepped up to the position of group chief executive, I look forward to realising Creston’s new vision of a more integrated and unified agency group to win more multi- discipline business. While we are cautious regarding client budgets for the next twelve months, we are confident that we can capitalise on our vision over the medium term to deliver value for shareholders.”

@RESEARCH LIVE

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