Creston in line for year

Shares of market research and communications firm Creston raced ahead as it said it expects to deliver slightly increased revenue and headline pre-tax profit in line with expectations.

Full year revenue is expected to be £75m compared to £74.9m the year before.

Creston added that the recovery within the group's Insight division continued during the second half and, as such, the board expects it to report a stronger second half compared with the first half.

Creston's recent acquisition, DJM Digital Solutions, is performing well and has been involved in several new business wins with other companies within the Health division.

Otherwise its Communications business has performed well including its Red Door Communications from its Health division, which has been appointed on a three-year term to the UK Government Procurement Service's roster for marketing services.

Creston said operating cash flow is ahead of board expectations and the group expects to be in a net cash position of over £10m at the year-end.

This includes £6.5m of the previously announced £7.2m (including VAT) received as a reverse premium and contribution to the agreed obligation for the group's new London office.

CJ