Cello board claims 'solid' figures for 2011
Marketing services group Cello has described its full year performance as ‘solid’ while claiming that its recently implemented focus on pharmaceuticals is ‘paying off’.
In its end of year figures, the group has said that its strategy of focusing within the pharmaceutical sector led to the growth of its research and consulting revenue by 45%.
Also highlighted was the group’s investment in growing its non-UK base, which now accounts for 10% of group revenue.
Strong cash conversion by the group saw its net debt fall to under £8.5m.
Tangible picked up a range of work with clients such as Reckitt Benckiser, Unilever, Dobbies Garden Centres, Aldi, Baxters Food Group, Scottish Government, Cofunds, JP Morgan, Fidelity, Centaur Media, International Fund for Animal Welfare, Macmillan Cancer Support, Bank of Scotland, NHS Health Scotland, UCAS, Marriott Hotels, Sainsbury’s, Air Malta, Standard Life Ireland and BAA Stansted. It has been revealed that the agency will continue to invest in technology in 2012 having invested in social media research development last year.
Due to the loss of a major retail client last summer, thought to be with one of the research agencies, a restructuring process was undertaken, resulting in a loss of £0.9m through redundancies and the closure of associated activities.
The board has also said that it is ‘optimistic’ of another ‘solid’ year this year.