Cello Health PLC - Pre-close Trading Update
FOR IMMEDIATE RELEASE 18 July 2019
("Cello" or the "Group)
Pre-close Trading Update
The Group has had a strong first six months of the year, with good like-for-like growth in overall net revenues and headline profit before tax, as well as improved headline pre-tax profit margins. As a result, the Group has seen strong growth in headline earnings per share.
In light of this performance, and good current income pipelines, the Board is confident of achieving a successful result in 2019 at least in line with current market expectations.
Cello Signal has had a solid start to the year, with a performance similar to that in the first half of 2018. Cello Signal is historically second half weighted in terms of profit performance and the Group expects this trend to continue.
The Group has implemented IFRS 16 Leases ("IFRS 16") using the simplified transition approach and will not restate comparative figures for the year prior to first adoption. The impact of the adoption of IFRS 16 at the transition date of
The Group's balance sheet remains strong, with good underlying working capital performance resulting in a net cash position at the end of June (pre IFRS 16 adoption). During the first half,
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.
Mark Scott, Chief Executive
Mark Bentley, Group Finance Director
Buchanan 020 7466 5000
This information is provided by RNS, the news service of the
Quick facts: Cello Health PLC
Market Cap: £173.91 m
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