Creston eyes international growth

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.

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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