24th Nov 2015 11:26
LONDON (Alliance News) - Creston PLC, a marketing communications company, on Tuesday said it expects to see its full-year performance fall "slightly behind" expectations, despite a stronger performance in the second quarter and the start of the second half coming after "slower growth" in the first quarter.
The company said that profit fell in the first half of its financial year, primarily due to a GBP2.0 million goodwill impairment charge booked following the closure of FieldworkUK.com Ltd.
Pretax profit fell to GBP1.1 million in the six months ended September 30, compared with GBP4.0 million in the corresponding half the prior year.
The company lifted its interim dividend to 1.42 pence from 1.35p.
Revenue increased by 8.0% to GBP40.3 million in the half. On a like-for-like basis, revenue moved up 1% to GBP37.7 million.
FieldworkUK.com was a subsidiary of ICM Research Ltd, was closed due to declining demand of face-to-face market research data collection.
Shares in Creston were down 17% at 115.00 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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