In a note to clients, analysts at the ‘house’ broker said: “Cello reported a good set of FY 2018 results with net fees +2%, PBT +6%, EPS +14% (aided by lower tax), DPS +10% and net cash £6.3m up from £1.6m last year.”
They pointed out that Cello’s 2017 acquisitions continued to perform well and the Health division broadened and deepened its client offering once again.
Looking forward, the analysts added, the focus will remain on growing the group’s presence in the US and leveraging Signal’s digital capability into the healthcare sector.
They concluded: “We reiterate our view that the market backdrop for Cello’s technically based, strategic advisory services is strong and defensive, supporting good growth prospects.”
In late afternoon trading, Cello Health shares were changing hands at 124.50p each, up 0.4% on Tuesday’s close.