Creston reports 11% revenue increase in year end statement

The group, which owns Nelson Bostock, Fever and Red Door Communications, expects like-for-like revenues to be marginally ahead over the same period.

The group has also reported that headline profit before finance income, finance costs and taxation for the full year is expected to be in line with previous guidance.

Following the lower sales levels previously recorded, the group has reported that it has now completed the necessary actions to reduce its operating costs.

The group, headed up by CEO Don Elgie, also stated that its most recent acquisition, The Corkery Group, is performing well.

It said that operating cash flow 'remains good' and, after funding the initial cash consideration of £3.8m for Corkery acquisition and various charges for restructuring, start-ups and acquisitions, the group expects to be broadly debt free at the year-end.

This article was first published on prweek.com