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Cello Group

  • BY: Andrew Hore |
  • POSTED: 19/01/2010 |

Market research firm Cello Group says that market research activity is building up and says its 2009 pre-tax profit will be £5m.

Pharmaceutical and health market research spending is strengthening but the financial services sector is weak. Low margin and loss-making activities have been curtailed.

Revenues of around £66m are expected for 2009, which represents a recovery on the interim figure. The cost base was between £4m and £4.5m lower than in 2008. There will be an exceptional cost of £1.9m for restructuring. 

Net debt should fall from £14.8m in June 2009 to between £11.5m and £12m at the end of the year.

At 38.5p a share, Cello is valued at £22.6m.

Full year figures will be published on 17 March.

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