Creston reveals 11 per cent group revenue growth and account wins with British Airways, Weetabix, Mclaren & Vodafone
Marketing communications group Creston has announced an 11 per cent year-on-year revenue growth for its third quarter while revealing contract wins with Vodafone, Mclaren, Weetabix, British Airways and Sony Mobile.
The group, which owns agencies such as TMW, Nelson Bostock and 18 Feet & Rising, saw the growth in revenue for the last quarter ending on 31 December, with a 9 per cent like-for-like growth for the nine-month period of its financial year so far. It also saw an 8 per cent revenue growth during H1.
However, the group also revealed that it had been advised by clients to expect 'delays' and 'cuts' across 'multi-disciplinary sectors' which would result in reduced revenue for the forth quarter.
Due to the client spend reduction forecasted the board has predicted an 8 per cent increase in revenue for the full year of around £83m.
Barrie Brien, group CEO of Creston plc, said: "We continue to win an enviable list of new clients across the Group, demonstrating the relevance of our Unlimited offer in the market place and representing a material increase to the wins last year. We are disappointed to have been impacted in January by a combination of one-off circumstances specific to certain clients and a cautious outlook from others, but with the good progress against our strategy, the full year effect from our new client wins and operational efficiencies made earlier in the financial year, we are establishing a strong foundation for future growth."
The company recently introduced its Unlimited positioning across all of its agencies which it credited with an increase in cross-referral opportunities.
New business wins for the period included Creston Unlimited's appointment as the CRM and data strategy adviser to British Airways, local marketing for Bosch Power Tools and Garden UK, as well as the CRM and digital strategy for Weetabix. Other accounts for the group were the Vodafone Customer Value Marketing account, Sony Mobile and TMW being named as McLaren's global lead digital strategy agency.