CSS's deputy chief executive (and finance director) Sean Kelly says that the group has now just about completed its acquisitions policy, adding that growth from now 'will be mostly organic'. This comes after a difficult year for the media representation and marketing group, but one in which it still managed to increase pre-tax profits 16% to £3.7m (excluding what Kelly terms 'genuinely non-recurring' costs and goodwill write-offs). Turnover more than doubled to £48.5m as eight acquisitions were integrated into the group. Kelly says that his task is now to 'convert 20 different sub-units into nine', spread across three regions and in three different sectors, the management of sports and entertainment personalities, marketing, and television distribution. Kelly says 'we do need our markets to take an upturn', but points out that the group has £2.5m of cash to invest following a £9.3m placing and open offer conducted a year ago. Debts have been reduced and will apparently fall much further this year. With a wide range of quality clients across a number of areas, plus a decent track record and reputation, the shares do not look at all expensive. Indeed, Kelly says that 'at the end of the day true value will out', confirming that the board isn't even contemplating issuing shares at anything below £2. £5m pre-tax is expected this year.