Cello Group chairman to outline expectations at AGM
Marketing group Cello’s communications company Tangible has been impacted by cuts in public sector spending, but the group’s Healthcare activities have remained positive its chairman will announce today.
Speaking at the annual general meeting of the group later today, Allan Rich will outline the fortunes of the last 12 months for Cello, highlighting that its work within healthcare has been a positive.
“During the first quarter of the year the core Healthcare activities of the Group have continued to perform well, offsetting slower spending in UK dependent sectors, particularly retail. The continued severe reduction of public sector activity, as expected, will impact the like for like first half performance of the Tangible division. There have, however, been some good new client wins in Tangible which will impact positively on the second half of the year,” Rich will announce.
“The Group continues to organically grow its Research and Consulting presence in the United States, with strong results in both New York and in San Francisco.
“MedErgy, the Group’s newly acquired pharmaceutical communications business in Pennsylvania USA, is performing in line with management expectations. MedErgy is already working closely with our existing pharmaceutical brands on joint client activity. Red Kite, the pharmaceutical consulting business that we acquired in April, has been successfully integrated with our existing pharmaceutical consulting brand, MSI.”
Rich will also highlight the appointments of Jane Shirley, John Rowley and Stephen Highley to senior management positions last month as having ‘provided additional momentum’ to the company’s expansion strategy, particularly in healthcare.
“The Group continues to explore expansion opportunities, in Asia in particular, to meet the increasingly global demands of our client base,” he will continue, adding that the Board expects to meet full year expectations despite the ‘flat condition’ of the UK economy.