Cello optimistic for 2013

Marketing firm Cello Group reported that 2012 trading had been in line with expectations and it was 'in good stead' as it went into the new year.

The firm said its Cello Health division enjoyed an encouraging new business period in the last quarter of 2012, which provided confidence for the start to 2013.

After a challenging first half to 2012, reflecting a marked slowdown in demand for insight services, its Cello Consumer arm enjoyed the anticipated recovery in activity in the second half.

This resulted in the division delivering a full year headline performance in line with expectations, with a recovery of headline operating margins, the company said.

Cello Consumer enjoyed "decent new business momentum" in the last quarter of 2012, which would underpin expectations for the business for 2013, the group added.

New business wins included mandates from companies including Britvic, Glasgow 2014 Commonwealth Games, Coca-Cola, General Motors and HSBC.

"Following the successful restructuring of the Group into Cello Health and Cello Consumer, good momentum in client bookings in the last quarter of 2012 puts the Group in good stead as we begin the new year," the statement said.

"Although mindful of the challenging global outlook amongst multinational clients, the board is optimistic of a solid outcome for 2013."

The firm's shares were up 7.7% to 42p at 10:00.