AGM Statement

Cello Group

AGM Statement

Cello announces that, at the General Meeting this afternoon, Chairman Allan Rich will say;

"The first three months of 2012 have seen good trading, reflecting the strong pipeline of work secured at the end of 2011 and a solid flow of bookings.

The Research and Consulting division of the Group performed well in the first quarter. In particular, the Group's pharmaceutical activities continued to perform strongly and the pipeline of work in this area remains very healthy. The Group continues to expand this area of activity, with a focus on international markets and particularly the US market where the Group is planning to invest further. In some areas, spend on qualitative and quantitative market research has weakened as a result of restructuring by certain multinational clients. Where this has occurred, action is being taken to preserve margins. The Group's social media and web enabled research capabilities continue to show good growth.

As expected, the Communications division of the Group has enjoyed a good performance in the first three months of 2012 and demonstrated a notable improvement in profitability.

Overall, the forward pipeline of work is solid and the Board remains optimistic that full year expectations will be met".

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