FTI Consulting's strategic comms arm sees 2.9% first quarter revenue decline

FTI Consulting, the US-listed business advisory firm, said that its comms arm saw a revenue decline of 2.9% over the first quarter of 2012.

Ed Reilly: global CEO of the FTI strategic comms practice
Ed Reilly: global CEO of the FTI strategic comms practice

The strategic comms arm of FTI, which rebranded last year from FD, reported that global revenue decreased to $45.0m (£28m) from $46.4 million in the first quarter of 2011.

The company said that M&A-related project revenue in Asia Pacific and retainer fees in the Europe, Middle East and Africa (EMEA) region were lower. However, project and retainer revenues in Latin America grew.

Adjusted EBITDA for the division was $4.5m over the quarter, or 10.1 percent of segment revenues, compared to adjusted segment EBITDA of $5.4 million, or 11.6 percent of segment revenues, in the prior year quarter.

Overall, the company reported that revenues increased 9.2 percent to a first quarter record of $395.2m compared to $361.8m in the first quarter last year.

President and CEO, Jack Dunn, commented: ‘Looking forward, general uncertainty in the world economy underscores the difficulty in predicting results. In fact, with elections looming or just resolved in every major country, double dip recessions in Europe, the continuing debt crisis, and growing concerns about China, probably the only certainty is change. 

‘Traditionally, such times have presented great opportunities for FTI Consulting, and we are confident that we are extremely well positioned in terms of intellectual capital, domain expertise, balance sheet strength and geographic footprint to be able to assist our clients whether that change is positive or negative.’

FTI's global strategic comms practice is led by Ed Reilly.

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