LONDON (ShareCast) - Marketing firm Creston (LSE: CRE.L - news) revealed a 5% rise in annual headline pre-tax profit as it won new contracts
but said it would not pay a final dividend.
Headline pre-tax profit rose to £14.2m for the year ended 31 March compared with £13.5m a year earlier. Revenue for the year rose 4% to £83.8m.
Net new business revenue rose to £15m from £9m a year ago. Creston said the pipeline of new work remained "encouraging".
However a final dividend will not be paid, making the annual dividend 0.73p per share.
"The board believes it needs to take account of the UK economic outlook, shareholders' general sentiment to reduce the company's gearing levels and the continued need to invest in the digital offer," the company said.
Chief Executive Don Elgie added, "We believe our new divisional structure, together with our proven expertise in the digital environment, will continue to serve us well in the coming year when the world's economies begin to climb out of recession."
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