Shares of marketing services firm Creston shot ahead after it said full year profit rose more than a quarter and as it looks ahead to international growth opportunities.
Pre-tax profit climbed to £10.8m for the year ended March 31, up 29% from the same time a year earlier. Headline pre-tax profit was flat at £10.3m from £10.4m before.
Revenue increased to £74.9m from £67.8m before. International revenue jumped 37% and represented 30% of total revenue, up from 25% a year earlier.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The London based company said it is focused on broadening its communication division's international reach.
"Naturally we remain cautious in these challenging macro-economic conditions, however we are confident in our strategy, which includes focusing on digital and other high-growth areas of marketing services as well as expanding our offer to meet the international opportunities from our blue-chip client base," said chief executive Don Elgie.
Creston recommended a final dividend of 2.67p per share compared to 2.25p previously, giving a total dividend of 3.50p, up from 3p a year earlier.
"With our cash generative businesses, a full year contribution from our recent acquisition and a good new business pipeline, the group is positioned for profitable growth," it added.
CJ
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
