NEWS9 June 2015

Creston reports £76.9m revenues and profits up 2%

Financials News UK

UK — Marketing communications group, Creston, has announced revenues rose 3% to reach £76.9 million (compared with £74.9m in 2014 ) with a 2% rise in pre-tax profits to £9.9m for the financial year ended 31 March 2015.

In the first year of its new five year strategy which has seen the business rebrand as Creston Unlimited as part of its collaborative team-led approach, its communication and insight division reported revenues of £56.2m, up 5%from £53.6m in 2014.

However headline profits before interest declined slightly to £8.1 million ( 2014: £8.3 million) which the company put down to the weakening Euro in the second half of the year on a few Euro based revenue contracts, along with additional freelancer costs incurred following a strong new business performance. 

The company said its insight expertise will be an important part of its new consultancy offer and will also closely support its communications companies. This has meant the former Communications and Insight divisions are reported as one division, Communications & Insight.

New business wins during the period include work for new and existing clients: Activision, Asda, Bentley, Deezer, McCarthy & Stone, Mclaren, Mind Candy, Sainsbury’s Energy, Sky, Sony Mobile and Vue Cinemas.

Health is still reported separately and recorded revenues of £20.7m this year.

Barrie Brien, group chief executive at Creston plc said: “One year into our new five year strategy there is a real feeling of momentum and energy across our Group. The launch of a new Group brand and offer, a Group-wide rebrand, three acquisitions and four partnerships have all been delivered alongside a strong new business performance, growth in our financial results, and an increased dividend to our shareholders.”

During this financial year Creston has bought neuroscience specialist, Walnut Unlimited and since the year end it has acquired a 51% of digital design and development consultancy How Splendid, a 27% stake in advertising agency, 18 Feet & Rising, as well as partnerships with Future Foundation, The Digital Consultancy and US digital healthcare comms business Propeller Communications.

@RESEARCH LIVE

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