Print Published 17th Nov 2016, 13:01

Creston extracts better profit from static turnover

This morning’s takeover offer for Creston was accompanied by news that the group made an improved post-tax profit of £2.7 million for the half year to 30 September on unchanged revenue (gross income).

The group’s operating profit margin remained subdued at 9.7%, but that is a great improvement on the 2.9% reported for the first half of 2015 (see Creston’s profit takes a 91% dip). If amortisation and various non-recurring charges were to be excluded, the margin would have been a creditable 13.2%.