Creston expects revenue jump

Creston, owner of Delaney Lund Knox Warren (DLKW) and Tullo Marshall Warren (TMW), says it expects a better than forecasted revenue increase for the past year.

The marketing services group says new business wins for the year will generate more than £15m in revenue for the year ended March 31, up from £9m registered last year.

It adds it has performed ahead of consensus forecasts for revenue, achieving 4% year on year growth, earnings before interest, tax, depreciation and amortisation and says it has a “lower net debt position”.

“This strong performance has been driven by an excellent new business that more than compensates for general market softness,” the group says in a trading statement.

Last month, energy supplier E.ON appointed DLKW to handle its £20 million advertising business while the agency was reappointed to handle the £18m retail banking account for Halifax account last August.

Creston was reported to have received interest from Cartesian Capital Group, a US private equity company, about a possible buyout last October. This followed confirmation last September that it was in talks with another unnamed American private equity group.

Full-year results for the year ended March 31 will be announced on June 23.

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