Chime Communications sees PR revenue grow 5% for first half of 2010

Marcoms group Chime Communications saw a 5% increase in revenue for its PR division in the first half of 2010.

Chairman, Chime Communications: Lord Bell
Chairman, Chime Communications: Lord Bell

The company’s PR group, Bell Pottinger, which also includes Good Relations, Harvard, Insight and Corporate Citizenship, saw revenue grow to £34.6million for the six months ended 30 June. This resulted in a 17% increase in operating profit.

Based on operating income, PR continues to be the largest division of Chime at 49%.

Chime is the latest marcoms group to reveal its results this week, after WPP saw its PR and public affairs revenues grow by 3.2%, according to its 2010 interim results released yesterday.

Meanwhile, Chime as a whole saw operating income grow by 22% to £71.1million and experienced organic growth of 5%. Operating profit was up 35% to £12.8million and was the best first-half year new business performance in the company’s history.

Highlights for the group included the opening of Pelham Bell Pottinger Asia in April.

Commenting on the results, Lord Bell, chairman of Chime Communications, said: ‘Our profit before tax is up again – nearly 40%. Chime is the success story of the marcoms industry over the last few years. Our half-year compound annual growth in profits before tax since 2005 has been 30%.’

He added: ‘In the same period we have nearly doubled our full-year earnings per share and more than doubled our dividend per share.  All this while the economies of the UK and developed world have suffered the credit crunch, the recession, the Euro crisis and many other problems; and the marcoms sector declined with the vast majority of our competitors reporting a fall in profits.  We are delighted with the group’s performance and are confident the success story will continue for the full year and beyond.’

As part of the interim announcement, released today, the company said it was expecting to see growth in M&A and corporate activity over the next 6 months.

The growth of global regulation is also expected to serve the group’s international public affairs network.

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