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Creston's Insight Arm Stays Strong
Marketing services group Creston has reported a 4% increase in revenues for the nine months ending December 2008. The group says trading for ICM and Marketing Sciences, the larger companies in its Insight Division, remains 'robust'.
For the group, net new business revenue annualised at £11m (£5m the previous year), while operating profit margin after head office costs was 18%.
Only 21% of revenue came from the group's advertising arm, and more than 70% was generated by its market research, direct and digital marketing, and healthcare marketing units. The firm said that this diversification towards more resilient areas of the marketing industry has resulted in demonstrable benefit for the group.
However, as reported in its interims in September, qualitative market research continues to experience a year-on-year decline and the company says it has taken the necessary steps to align costs and structure to the trading outlook.
The Creston Board said in a statement that it is realistic about the tough trading environment faced by the UK economy, and added that the group is preparing for the new financial year by reducing its operating cost base where necessary.
Web site: www.creston.com .
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