Huntsworth reports higher net new business activity in Q1 2010

Global PR and healthcare communications group Huntsworth has reported significantly higher net new business activity in Q1 of 2010.

Huntsworth chief executive: Lord Chadlington
Huntsworth chief executive: Lord Chadlington

In its interim management statement released this morning, Huntsworth said net new business wins were up by 33 per cent on a like-for-like basis and the group has now committed revenues of 80 per cent against its rising revenue targets for 2010.

The group is trading in line with management revenue and profit expectations and expects to return to revenue growth during the summer.

It said that its balance sheet remains robust with net debt within banking covenants.

Following the confirmation of the liquidity thresholds announced by FTSE on 1 April, Huntsworth said that it may qualify for the FTSE All-Share index in the next annual review to be held on 9 June 2010.

Huntsworth chief executive Lord Chadlington said: ‘I am very encouraged by this good start to the year. Despite the low comparator base of the previous year, the strong new business flow we have seen in the first quarter of 2010, the level of revenues already committed for the full year and our growing ability to win bigger and more international mandates gives us confidence that Huntsworth will not only return to growth during 2010 but also that we are on track to meet our ambitious target of doubling our historic organic growth record during 2011.'

From this year the group will be reporting results and interim management statements by each of its four brands.

 

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