Cello upbeat on solid 2009

Cello, the marketing services group that owns the Leith Agency and Farm Communications, has reported income up 17.2% last year and says that is has made a “solid” start to 2009.

The group says operating income hit £66.6m last year, up from £56.8m in 2007.

However, on a like-for-like basis, the marketing services firm did register slower income growth last year, 2% compared with 16.1% a year earlier.

Despite slowing growth, group chief executive Mark Scott says its focus on the “defensive” sub-sectors of research and direct marketing will help it through “an increasingly challenging economic backdrop”.

He adds the group “has made a good solid start to the year”.

“Furthermore, our relatively low exposure to cyclical sectors should benefit us as we continue to invest in expanding our core capabilities to gain market share”, he says.

Last November, Farm won the £25m advertising account for Confused.com to become the company’s first retained advertising agency two months after pensions giant Aegon appointed Leith to handle its advertising business.

Recommended

Mediacorp in takeover talks

Marketing Week

Mediacorp, the owner of digital ad network Eyeconomy, is in takeover talks following bids from “more than one” undisclosed interested parties. The company revealed it was in discussions this morning (March 20), just three months after it backed away from a deal to acquire rival independent Ad Network which subsequently went into administration. Further consolidation […]

Finance directors back marketing investment

Marketing Week

Finance directors across the country believe that marketing investment should be strengthened during the economic downturn to benefit their firm in the long-run, according to a new report. The survey by database marketing and customer insight firm KDB reveals that 84% of respondents believe that by reinforcing spend their companies are more likely to enjoy […]

Cognito founder sells stake in agency

Marketing Week

Founder of Cognito Integrated Marketing Karl Heasman has sold his majority holding in the agency to creative agency The Forth Generation. Heasman founded Cognito in 1996 and will remain as a consultant to the agency for a few months. Existing managing partner Bob Brenchley will stay with the business working with the new shareholders and […]

Comments

    Leave a comment