18th Jul 2019 11:00
(Alliance News) - Healthcare-focused advisory firm Cello Health PLC said on Thursday that it had a strong first half of the year, expecting like-for-like growth in net revenue and headline pretax profit.
In the first six months of 2018, Cello had recorded pretax profit of GBP3.3 million on revenue of GBP78.5 million.
The company expects full-year results for 2019 to be in-line with market expectations.
Its health division specifically had operating margins ahead of the same period of 2018, with performances in Cello's UK and US consulting business being particularly strong, it said. Stronger dollar exchange rates compared to the same period last year also helped the company.
The company said its health segment continued to expand during the half, with its office in Berlin now fully operational and investment in the Boston area increased this year after it secured a "significant" number of new clients in the region.
The Cello Signal unit, its digital and creative arm, had a "solid" first six months similar to last year's level, but it historically performs better in the second half of the year, the company said.
Shares in the company rose 6.0% at 126.11 pence in London on Thursday morning.
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