The Week: City news - Cello 'realistically cautious'

The market research and communications group Cello has warned its full-year results will come in at the lower end of market expectations, but said client expenditure levels are holding up.

Analysts are expecting the company to report a pre-tax profit of £7.52 million on revenues of £80.47 million on 17 March, according to Reuters Estimates. Cello said it is "realistically cautious about the current outlook", observing that clients have indicated their intention to maintain their expenditure levels. It added that its net debt would come in at less than £10.5 million, significantly below expectations, due to strong cash conversion in the second half of 2008.