Creston on track for full year
Communications group Creston confirmed that headline pre-tax profit for the full year is expected to be in line with company expectations.
Communications group Creston confirmed that headline pre-tax profit for the full year is expected to be in line with company expectations.
In an update on trading for the year ended 31 March 2012 it said full year revenue is expected to reach £75m, up 11% from the previous year. Like-for-like revenue is marginally ahead of the same period last year.
Creston, which posted a profit warning in January, said it has now completed the necessary actions to reduce its operating costs.
Operating cash flow remains good and after funding the initial cash consideration of £3.8m for The Corkery Group acquisition and the cash charges for the restructuring, start-ups and acquisition related costs, the group expects to be broadly debt free at the year-end and in a net cash position as at 27 April 2012, both ahead of expectations.
Creston said its most recent acquisition, The Corkery Group, is performing well.
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Albert Einstein's first violin sells for £860,000 at auction
Albert Einstein left his first violin behind as he escaped Nazi Germany. Last week, it became the most expensive instrument not owned by a concert violinist
-
Rob Granieri: the mysterious billionaire boss of Jane Street
Profits at Jane Street have exploded, throwing billionaire Rob Granieri into the limelight. But it’s not just the firm’s success that is prompting scrutiny