Cello floated on the Alternative Investment Market in November, raising £15m including expenses. Its maiden financial results reveal that its turnover for November-December 2004 was £9.4m.
Kevin Steeds, executive chairman of Cello, says the group is looking at more potential acquisitions to integrate into its market research, brand advertising, and direct marketing and database management offerings, but was also interested in buying companies in other disciplines.
It used a combination of cash and equity to acquire healthcare market research company Insight Research Group, brand advertising agency The Leith Agency, and direct marketing and database management company Target Direct Group in November.
It followed this up by buying Edinburgh-based Navigator Responsive Advertising, which it integrated into Target Direct Group.
In direct marketing, it is focusing on Target's capability in the over-60s sector, which involves building on the data analysis capability of its Target subsdiary Talking Numbers.
Target contributed £949,307 to the group's £1.3m pre-tax profit. Its core charity and non-for-profit business is heavily weighted towards the final quarter.
At December 31, Cello still had £6.4m in cash, which will help finance further acquisitions.
It has recruited a group finance director Mark Bentley, who is expected to join in late April from Incepta.
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