Chime ‘ahead of market expectations’ and acquires Brazilian sport firm

Chime Communications, owner of Bell Pottinger, said it expects strong organic growth in 2011 as it buys 60% of Brazilian agency Golden Goal Sports Venues.

Lord Bell: Chairman of Chime Communications
Lord Bell: Chairman of Chime Communications
The marcoms group released an interim management statement this morning ahead of its annual general meeting later today.

The group said its 2011 income was on course to be 'slightly ahead' of market expectations.

Lord Bell, chairman of Chime, commented: ‘The group’s track record of growth has continued into the first four months of 2011, with good organic growth and growth from acquisitions.'

In terms of PR, Bell said: ‘Most businesses have shown good growth, particularly financial, corporate and consumer public relations. The continuing political problems in the Middle East and North Africa have had little or no impact on our geopolitical business and overall we expect this division to perform in line with budget.’

Recent PR wins include Research In Motion, G4S and Birds Eye Iglo Group.

This morning the group also announced the acquisition of 60% of Golden Goal Sports Venues for an initial cash sum of £2.4m. Golden Goal was set up in 2005 in Brazil by its two founding directors and major shareholders – Cadu Ferreira and Mauro Correa, who will retain stakes and remain in the business.

Golden Goal is involved in both sponsorship consulting and rights selling for major companies and sporting federations. Chime said that sponsorship investment in Brazil is forecast to double over the next four years with the FIFA World Cup in 2014 and the Olympic Games in 2016. 

Bell said: ‘We are looking forward to Golden Goal providing a base for the services of our recent acquisition ICON which played a pivotal role in the city branding programmes at the last FIFA World Cup in South Africa.’

He added that at least one existing senior executive from the Chime sports division would relocate to Golden Goal in the near future.

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