Marketing agency Creston is firmly back on the growth track after signing a string of new contracts in the first quarter.
New business wins include Astellas, Guinness, Smith & Nephew and Sony, to name just a few, helping to produce an 11 per cent hike in organic revenues, a vital industry metric. That compares with a 6 per cent organic income slump this time last year.
Selling its traditional advertising agency last month in a £28m deal was good business (). Today Creston is debt-free, with over £1m cash in the bank plus up to £25m of funding fire-power if needed.
Yet the shares limped just 2p higher to 89p, demonstrating that the market is not giving Creston the credit it deserves.
When: 9/04/10
Price: 91p
Performance to date: -2%
