17th May 2010
Cello announces that at the General Meeting this morning, Chairman Allan Rich will say:
“We have continued to make a solid recovery in our profitability in the first quarter of the year, continuing the trend of our stronger fourth quarter in the last financial year.
“Client activity in research has settled into a more normal pattern after the disruption seen last year, with a notably strong performance in health related activity and from international research mandates. Our Tangible division is also performing as expected.
“Across the group we are benefiting from the overhead reduction programme implemented during 2009, particularly where we consolidated operations into larger professional hubs.
“The Group has therefore performed strongly during the first quarter of 2010. While there remains economic uncertainty, we are growing in confidence about the Group’s performance.”