17th May 2011
Cello announces that at the General Meeting this afternoon, Chairman Allan Rich will say:
“During the first quarter of the year the core Healthcare activities of the Group have continued to perform well, offsetting slower spending in UK dependent sectors, particularly retail. The continued severe reduction of public sector activity, as expected, will impact the like for like first half performance of the Tangible division. There have, however, been some good new client wins in Tangible which will impact positively on the second half of the year.
“The Group continues to organically grow its Research and Consulting presence in the United States, with strong results in both New York and in San Francisco.
“MedErgy, the Group’s newly acquired pharmaceutical communications business in Pennsylvania USA, is performing in line with management expectations. MedErgy is already working closely with our existing pharmaceutical brands on joint client activity. Red Kite, the pharmaceutical consulting business that we acquired in April, has been successfully integrated with our existing pharmaceutical consulting brand, MSI.
“The appointments of Jane Shirley, John Rowley and Stephen Highley to senior management positions in April this year have provided additional momentum to the Group’s expansion strategy, particularly in healthcare.
“The Group continues to explore expansion opportunities, in Asia in particular, to meet the increasingly global demands of our client base.
“At this early stage of the year, despite the continued flat condition of the UK economy, the Board maintains its belief that full year expectations can be met.”