Chadlington cost cutting takes PR firm into profits

Lord Chadlington's new regime at The Huntsworth Group has

successfully stemmed losses at the PR firm as it reported profits of

£28,000 for the six months to 30 June.



The figures compare with losses of £278,000 for the same period

last year, and will be seen as a triumph for a cost-cutting strategy,

which has seen two of the firm's four offices close, and headcount cut

by a third.



Recent acquisition Harrison Cowley, bought for up to £25m in

August (PRWeek, 3 August), is omitted from the figures, as are Woodside

Communications and Stephanie Churchill PR, bought for a total of £5.3m in May (PRWeek, 4 May).



Huntsworth recorded a slight increase in revenues, which rose to £2.8m, boosted by the addition of clients such as Pfizer and Smith &

Nephew.



The group has cleared £6.7m debts and is now £1m in credit.



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