- Healthcare focused strategic marketing group Cello's revenues rose 5.0% to £80.9m in the six months to the end of June.

Gross profit rose by 4.0% to £43.5m with like-for-like gross profit growth of 2.7%.

Headline profit before tax was unchanged at £4.2m and headline operating margins slipped to 10.2% from 10.5%.

The group posts a statutory operating loss of £0.8m (2015: profit of £1.9m) after additional provision for VAT of £2.1m (2015: £1.1m). The statutory basic loss per share was 1.08p (2015: earnings of 1.18p).

Net debt reduced to £4.8m (June 2015: £9.8m).

Chief executive Mark Scott said: "Following the resolution of the long standing VAT dispute with HMRC, the group is energetically pursuing its growth ambitions, supported by a strong balance sheet.

"Cello Health has the potential to become a global leader in the growing healthcare advisory services space and rapid progress is being made towards this goal.

"Cello Signal's potential as a powerful growth and profit engine for the Group in the digital solutions space is now also taking shape. Overall, the Group is well placed to fulfil its growth ambitions."

Story provided by