14th March 2005
Preliminary audited results for the period ended 31 December 2004
Cello Group plc announces its preliminary audited results for the period ended 31 December 2004. These relate to the period from incorporation on 5 May 2004 until 31 December 2004, and include results from its trading subsidiaries for the two month period November and December 2004.
- Placing and admission to AIM on 9 November 2004, raising £15m (gross) at 100p per share.
Simultaneous completion of three acquisitions of Insight Research Group, The Leith Agency and Target Direct Group in November 2004.
Completion of further acquisition, Navigator Responsive Advertising in December 2004 which has joined the Target Direct Group.
Profit before taxation for the two month period ended 31 December 2004 of £1.3m.
Profits boosted by marked seasonality of Target Direct Group.
Net cash as at 31 December 2004 of £6.4m.
Kevin Steeds, Executive Chairman, commented:
‘We are pleased to have made an excellent start as a new public company. The successful placing in November has given us both the resources to acquire high quality companies and a first class institutional shareholder base.
‘The current year has started well and we are confident that all parts of our group will contribute to a successful year.
‘We continue to appraise a number of very exciting opportunities that will add quality and scale to our existing businesses and expect to announce a number of earnings enhancing initiatives over the forthcoming months.’