Huntsworth sees profit rise despite drop in revenues

PR Week UK, Friday, 26 September 2003, 12:00am,

Communications group Huntsworth unveiled its half-year results this week, posting a 63 per cent rise in profits despite a 4.1 per cent fall in like-for-like revenues.

Huntsworth CEO Lord Chadlington said the group’s operating margins of 17.1 per cent were good when taking into account the cost of acquisitions such as that of Global Consulting Group (PRWeek, 18 October 2002).

Although no separate figures for Huntsworth’s individual companies were available, the company said GCG’s investor relations group had been hit by the Iraq war, as US companies in particular held back investment in IR.

The company also said it still expected the loss-making hatch-group to move into profit by the end of this year.

The acquisition of hatch (PRWeek, 27 June) has boosted the proportion of revenue that Huntsworth derives from PR operations to 80 per cent.