25 May 2012

Sweet music for Cello

19/01/2011 Ben Jaglom

Marketing services concern Cello Group (CLL) released an ebullient trading update indicating pre-tax profits will be ‘ahead of expectations’.

The AIM-quoted outfit adds that in addition to the better than expected profits, net debt will be lower than the consensus forecast of £9 million. London-headquartered Cello says its market research and consulting business experienced a ‘strong second half’ with operating profits up 20 per cent.

Chief executive officer Mark Scott argues Cello is doing well because ‘of our strength in research, something that helps us to add value.’ Looking forward he opines the aim of Cello is to get ‘more energetic outside of the UK’, adding that, while the company is a ‘big player’ in the UK, internationally there was much room for expansion.

House broker Singer has raised its 2010 pre-tax profits forecast from £6.1 million to £6.3 million, on turnover of £61 million, with profits of £6.5 million on sales of £62.5 million pencilled in for 2011.

With forecast earnings of 6.9p a share for last year, Cello trades at 8.3 times 2010 earnings and offer a yield of 2.4 per cent. With some encouraging plans for its future and an enthusiastic board, the shares, which gained 12.7 per cent this morning, currently trading at 57.5p, are worth a speculation.

Tags: London, Marketing, Speculative punts

Sector: Media

Companies: Cello

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