Cello (CLL)

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230
Cello CLL Logo

The healthcare-led marketing consulting group.

18-Jan-2018 – 124p – £129.6m – PER 15.1

Trading Update For The 12 Months To End December 2017 – In-line and moved into a Net Cashposition.

Looks OK but I just don’t like consistency – Revenue and Profit. DownUp, Profit, Loss… Nice to have moved into Net Cash but still not enough here for me at present.

22-Mar-2018 – 117p – £122.3m – PER 13.9

Results For The 12 Months To End December 2017 – Revenue up 2.4% to £169.3m (2016: £165.3m), Reported PBT of £5.8m (2016: loss of £1.7m), Net Cash of £1.6m (2016: net debt of £5.1m), FY Dividend up 2.9% to 3.50p (2016: 3.40p). A good start to 2018.

I still can’t find enough here for me to be anything but Neutral.

9-May-2018 – 119.5p – £125.0m – PER 13.8

AGM Statement – Strong start, confident of achieving a successful result in 2018.

Seems like an OK company but there’s not enough here to make me want to invest at present.

19-Sep-2018 – 133p – £139.3m – PER 14.9

Interim Results For The 6 Months To End June 2018 – Revenue flat, with Statutory PBT up 23.5% and Statutory Basic EPS up 9.3%. Net Debt is down about 10% and the Interim Dividend is up 4.8%.

I said this last time “Seems like an OK company but there’s not enough here to make me want to invest at present”, I will remain Neutral.

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