NEWS4 February 2010

Creston reports improved performance in third quarter

Financials UK

UK— Insight and communications group Creston this morning reported an improved business performance for the three months ending 31 December, but warned that the economic climate “remains challenging”.

Like-for-like revenue for the third quarter was in line with a year ago and up on the second quarter, the company said – reducing the year-to-date revenue decline from 6% at the half-year mark to just under 4% for the nine-month period.

Creston did not break out figures for the research division, which includes the agencies ICM and Marketing Sciences and which reported an 8% decline in revenue to £7.8m for the six months ending 30 September.

It said the new calendar year had begun well “with new business wins from both new and existing clients” and “an encouraging number of new business opportunities”.

“Clients’ budgets are also showing a greater stability and visibility,” Creston said. However, despite these “positive signs” the firm said it remained “cautious” in its planning and that expectations for the full-year have not changed.