Creston acquisitions help double profits and turnover

by Daniel Farey-Jones, Brand Republic 26-Jun-06, 08:45

LONDON – Creston, the mini holding company that last year bought ad agency Delaney Lund Knox Warren & Partners, has increased pre-tax profit by 125% from £3.4m to £7.7m and revealed impressive organic growth in its results for the year to March 31.

The company also houses market research, PR and marketing agencies such as CML Research, Nelson Bostock, and The Real Adventure.

In April, it acquired direct marketing agency Tullo Marshall Warren and market research company ICM Research in deals worth up to £38.3m and £37.2m respectively.

Last year's acquisitions, such as DLKW, helped Creston grow revenues by 124% from £19.4m to £43.5m.

The company's organic revenue growth was 14%, described as "exceptional" by chief executive Don Elgie, who indicated there was more to come.

"Creston is well placed to continue into the next phase of its strategic development. We see nothing on the horizon that will prevent us from delivering another excellent year in 2007," he said.

The holding company's stated aim is to expand outside the UK into the main European markets, the US, Asia and Latin America but management said it would not force a timetable on itself.

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