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."
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