18th March 2008
Strong acquisitive and organic growth drive profit up 29%.
Cello Group plc (“Cello”, AIM:CLL “The Group”), the market research and consulting group, today announces its preliminary audited results for the year to 31 December 2007.
• Turnover up 45.0% to £108.3m (2006: £74.7m)
• Operating income up 46.4% to £56.8m (2006: £38.8m)
• Like-for-like operating income growth of 16.1% (2006: 15.7%)
• Like-for-like operating profit growth of 7.1% (2006: 27.3%)
• Headline profit before tax up 28.8% to £7.6m (2006: £5.9m)
• Basic headline earnings per share up 19.8% to 15.06p (2006: 12.57p)
• Headline operating cash flow conversion strong at 97%
• Net debt of £5.8m (2006: £1.1m)
• Full year dividend up 20% to 1.2p (2006: 1.0p)
• Encouraging start to year and good forward visibility for 2008
• Like-for-like operating income up 13.8% in first two months of 2008
• Consolidation behind two lead brands: Cello (Research) and Tangible (Response)
• Rebranding of a number of Response businesses
• Net organic headcount investment of 82 people across Group
• Investment in organic international growth
• Acquisitions during year grow core offering
Kevin Steeds, Chairman, commented:
“These results represent another excellent year for the Group with significant growth in all key financial metrics. Once again, we are particularly pleased with our like-for-like operating income growth which significantly exceeds overall market growth rates.
“Cello is a focused group of scale and quality in Research and Response with a solidly growing international revenue stream.
“We have made an encouraging start to 2008, and with a strong pipeline and order book, are confident of another successful year.”