Share price: 162.00p


16th March 2010

Cello Research ends year strongly, Q1 continues encouraging trend. Cello Group plc, the market research and consulting group, today announces its preliminary audited results for the year to 31 December 2009.


    Like-for-like operating income £60.5m (2008: £65.4m*)

      Research H2 2.6% growth

      Headline operating profit £5.9m (2008: £8.2m*)
      Basic headline earnings per share 7.28p (2008: 13.08p*)
      Full year dividend up 4% at 1.30p (2008: 1.25p)
      Strong cash management and generation held down net debt to £11.5m (2008: £9.9m), after cash earn out payments of £3.2m
      Banking facilities successfully renewed until 2013
      Solid second half performance in Research continues in 2010
      6th largest UK research operation (2008: 9th) and 19th globally (2008: 21st)
      Good start to 2010 – momentum in Q4 2009 continued into Q1 2010
      Robust pipelines of non-UK work in Research and Consulting
      Simon Dannatt appointed Managing Director, Cello USA

      *after discontinued operations

      Mark Scott, Chief Executive, commented:

      “2009 was a demanding year. However, a combination of our very tight cost control and a better final six months for our Research and Consulting business gives us the confidence to increase our dividend.

      “We are leaner, more focused, with real strength in our core Research and Consulting activities – as demonstrated by the improvement in both the domestic and international positioning of our research business. Long standing client relationships remain robust and gearing has been materially reduced. This puts us in a strong position to expand again.”

      Year end 2010 Prelim Statement


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