Creston says trading in line with its view

(Reuters) - Marketing communications company Creston (CRCRE.L) said trading in the April to July-end period was in line with its view.

The company said for the first quarter ended June, like-for-like sales declined 6 percent mainly due to cuts in marketing budgets by some clients, compared with a rise of 5 percent in the prior period.

"Although the current economic climate is having an effect on client budgets, we continue to win new business to offset the impact," the company said in a statement.

It said it had won new business from Astellas Pharma (4503.T), AstraZeneca (AZN.L), GlaxoSmithKline (GSK.L), among others.

Creston said it continued to manage its working capital effectively and its operating cash flow was in line with its view.

It expects its new divisional structure and business pipeline to stand the company in good stead for the full year, Creston said.

Shares of the company closed at 66.50 pence on Thursday on the London Stock Exchange.

(Reporting by Shivani Singh in Bangalore; Editing by Unnikrishnan Nair)