Cello Group, the market research and consultancy group, posted a 40% increase in pre-tax profits from £4.2m to £5.9m in the year to December 31, 2006. The steep rise is attributed to a strong performance across its core market research business.
The group, which owns Farm Communications and Edinburgh-based The Leith Agency, also announced a 43% increase in overall group turnover from £52.1m to £74.7m over the year.
It also reported operating profits of £3.5m last year across its planning and research business, up from £2m last year with overseas work now contributing to almost half of revenues.
There was strong growth in its digital, direct marketing and data division, Cello Response, with operating profits up from £1.5m in 2005 to £1.8m this year. The division benefited from growth in response media, particularly online activities, with its core focus on the financial services and charity sectors.
Cello chairman Kevin Steeds (pictured) says: “These results represent a substantial step forward for us as a public company. Over 75% of our group is in research and consulting which is where we are experiencing high levels of organic growth.”
The company continues to build its consulting division with the extension of its consumer research capability under its core brand, The Value Engineers.