INTERNATIONAL: Drury sells majority share in Drury Communications

DUBLIN: Drury Communications founder Fintan Drury has sold out his majority stake in the firm to a pounds 561,000 management buy-out. Drury retains a four per cent stake, down from his previous 55 per cent, and will step down as managing director in January.

DUBLIN: Drury Communications founder Fintan Drury has sold out his

majority stake in the firm to a pounds 561,000 management buy-out. Drury

retains a four per cent stake, down from his previous 55 per cent, and

will step down as managing director in January.



Director Billy Murphy, who has increased his holding from 19 per cent to

around 40 per cent, will take over the role. Murphy currently heads up

the firm’s PR business. Other senior executives now hold an estimated 24

per cent.



Drury set up the company ten years ago. It now encompasses PR, market

research, internal communications and public affairs. It has offices in

Dublin, Belfast and Budapest, and is looking to set up in the UK. The

firm has 40 staff and expects to pull in pounds 2.7 million in fees this

year.



- Drury has just beaten fellow Irish agencies Murray Consultants and

Slattery PR to handle the Irish government’s flotation of Telecom

Eireann next year (PR Week, 23 October). This is the first state utility

to float in Ireland. Drury shares the account with Dewe Rogerson, which

beat Shandwick and McCann-Weber on the international pitch.



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