City PR shows upturn as Incepta sees profits rise

Incepta - the parent group of City consultancy Citigate Dewe

Rogerson - this week gave fresh hope for the PR industry amid concerns

of a recession as it announced a doubling in profits.



The marketing services group exceeded City expectations when it posted

its year-end results to March, showing profits up 104 per cent to pounds

27.8m and revenues up 99 per cent to pounds 153m.



Incepta CEO Richard Nichols said the results confirmed financial and

corporate PR is more resilient to an economic downturn than the industry

anticipated.



'The need for corporate and financial PR is as important in a downturn

as in an upturn,' he said.



'For the PR industry this is very much a vote of confidence and a clear

message that financial PR is a hard-edged business even in a

downturn.'



The group's US technology arm, Citigate Cunningham, has taken a knock in

profits forcing the firm to axe 40 jobs earlier this year, although its

UK hi-tech offering Citigate Technology has not yet felt the effects of

the tech slump.



Beeson Gregory media analyst Hector Forsythe said: 'Incepta's results

are not all roses but it's not as dire as people might have expected it

to be at this stage.'



Incepta's recent acquisitions, which account for much of the profits

leap, include UK consumer specialist The Red Consultancy.



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