9th May 2018
Cello Health plc announces that, at the Annual General Meeting to be held later today, Chairman Allan Rich will make the following statement:
“The Group has had a strong start to the year and this looks set to continue into the second quarter based on current visibility.
“At an operating level, Cello Health has had a robust first quarter with good revenue growth and profit performance from Cello Health Insight and Cello Health Consulting, as well as strong results from our Cello Health Communications business in the US.
“Cello Signal has also made a good start to the year, with solid operating profit performance, helped by the restructuring of the US operations in 2017. Signal’s health communications activity has got off to a quick start to the year with several significant project wins and a good pipeline of future opportunities.
“The Group’s balance sheet remains strong, with good cash conversion so far in 2018. The Group continues to assess suitable acquisitions in line with the strategic objective of further growing the Cello Health brand in the US.
“As announced on 26 April 2018, the name of the Group has changed to Cello Health plc to better reflect the primary strategic focus of the business on the healthcare sector. The Group’s markets in healthcare are large and attractive, and our position is underlined by the fact that we already work with 24 of the top 25 pharmaceutical companies globally.
“Following a long period of valuable service to the Group, two Non-Executive Directors of the Group, Paul Hamilton and Will David, have declared their intentions to retire from the Board during 2018. The Group has commenced a search process for appropriate replacement Non-Executive Directors and will make further announcements in due course.
“The Board is confident of achieving a successful result in 2018.”