Cello to continue to invest in pharmaceutical marketing in 2012
Marketing services group Cello has said that it plans to continue to invest in overseas pharmaceutical activity, particularly within the US.
A statement released ahead of the company's General Meeting will hear the group's chairman, Allan Rich discuss the first three months of trading for 2012.
"The first three months of 2012 have seen good trading, reflecting the strong pipeline of work secured at the end of 2011 and a solid flow of bookings," says Rich.
"The Research and Consulting division of the Group performed well in the first quarter. In particular, the Group's pharmaceutical activities continued to perform strongly and the pipeline of work in this area remains very healthy. The Group continues to expand this area of activity, with a focus on international markets and particularly the US market where the Group is planning to invest further," he added.
Rich is also revealed that the group's market research revenue had recently been impacted by a lack of spend in some quarters; "In some areas, spend on qualitative and quantitative market research has weakened as a result of restructuring by certain multinational clients. Where this has occurred, action is being taken to preserve margins.
"The Group's social media and web enabled research capabilities continue to show good growth.
"As expected, the Communications division of the Group has enjoyed a good performance in the first three months of 2012 and demonstrated a notable improvement in profitability."
He concluded; "Overall, the forward pipeline of work is solid and the Board remains optimistic that full year expectations will be met".