Cello Health PLC Pre-close Trading Update (0883V)
July 19 2018 - 1:00AM
UK Regulatory
TIDMCLL
RNS Number : 0883V
Cello Health PLC
19 July 2018
FOR IMMEDIATE RELEASE 19 July 2018
Cello Health plc
("Cello" or the "Group")
Pre-close Trading Update
Cello Health plc (AIM: CLL), the global healthcare-focused
advisory Group, today publishes the following trading update for
the six months to 30 June 2018.
The Group has had a strong first six months to the year, with
good growth in overall revenues and profits. Profit margins are
slightly higher than in the same period last year.
The Board is confident of achieving a successful result in 2018
in line with current market expectations.
The Cello Health division has had a robust first half, with
excellent like-for-like gross profit growth. Headline operating
profit performance has been good from all three capabilities,
namely Consulting, Insight and Communications. Operating profit
margins are ahead of the same period last year.
The businesses acquired last year are now fully absorbed into
the core operating structure of Cello Health and continue to make a
good contribution, extending the reach of Cello Health into the
biotech community to complement the pharmaceutical core of the
business. Cello Health continues to expand organically both in
Europe and the US. A new office is being opened shortly in central
Philadelphia and the business plans to expand in Boston.
Cello Signal has also had a solid start to the year. While gross
profit has declined slightly relative to the first half of 2017,
first half profit margins have increased, therefore headline
operating profits have grown slightly compared with 2017. Signal's
health communications activity has got off to a quick start to the
year, with several significant project wins and a good pipeline of
future opportunities. Signal is increasingly involved in supporting
Cello Health's proposition with clients, both with digital
communications delivery and through the social media analytics
software solutions of Pulsar.
The Group's balance sheet remains strong, with the normal
outflow of cash that occurs in the first half resulting in a small
net debt position at the half year as anticipated. The Group
continues to assess suitable acquisitions in line with the
strategic objective of further growing the Cello Health brand in
the US in particular.
Following the announcement at the AGM regarding the intended
retirement of Will David and Paul Hamilton as Non-Executive
Directors, the Group has made good progress in the search for
appropriate successors and will make further announcements in due
course.
Enquiries:
Cello Health plc 020 7812 8460
Mark Scott, Chief Executive
Mark Bentley, Group Finance Director
Cenkos Securities plc 020 7397 8900
Mark Connelly
Harry Hargreaves
Buchanan
Mark Court 020 7466 5000
Jamie Hooper
Sophie Wills
About Cello Health plc
Cello Health plc is a global healthcare-focused advisory Group
comprised of a set of leading clinical, commercial advisory and
digital delivery capabilities. Cello Health plc currently services
24 of the top 25 pharmaceutical clients globally, as well as a wide
range of biotech, diagnostics, devices and other key non-healthcare
clients.
Cello Health plc enables clients to commercialise and
differentiate their assets and drive brand success in ever more
complex global markets. The business delivers its services through
nearly 1,000 highly skilled professionals, utilising latest
thinking, technology and digital solutions.
Cello Health plc delivers its services from an office network in
the UK, USA, and Asia, with hub offices in New York City,
Philadelphia PA, London, Edinburgh, Farnham and Cheltenham.
For further information, please visit:
https://cellohealthplc.com
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contact rns@lseg.com or visit www.rns.com.
END
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