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NEWS26 July 2010

Creston sees first quarter improvement after DLKW disposal

Financials UK

UK— The insight and communications group Creston has reported like-for-like revenue up 11% in the first quarter of its new financial year following the sale of its ad agency DLKW.

The results, for the three month period to 30 June, compare “favourably” to the 6% like-for-like revenue decline reported for the first quarter of 2009 and the 4% revenue decline reported for the financial year ending 31 March 2010, Creston said.

Divisional performances were not broken down in today’s interim management statement.

Creston’s insight division, which includes research agencies ICM and Marketing Sciences, saw revenue fall 4% to £16m in the last financial year. Those results factored in contributions from qualitative agency CML Research, which is now closed. Excluding CML, the continuing companies delivered like-for-like revenue growth of 1%.

DLKW was sold to Lowe Group for £28m on 14 July.

@RESEARCH LIVE

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