PR group Huntsworth sees revenue grow 13.7% to £87m for H1 2010

Global PR and healthcare comms group Huntsworth has seen its revenue for the first half of 2010 grow by 13.7% to £87million, according to its interim results published this morning.

Huntsworth chief executive: Lord Chadlington
Huntsworth chief executive: Lord Chadlington

The results show the group has seen like-for-like revenue growth of 0.4%, while operating profits have increased by 25.6% to £13.6m.

Huntsworth, whose PR agencies include The Red Consultancy, Grayling and Citigate, is on track for revenue growth of more than 7% during 2011.

The positive results for Huntsworth echo similar growth at rival marcoms groups WPP and Chime Communications, also revealed this week.

Huntsworth's interim results also show that net new business wins of £26.5m are up 11% on the previous year.

Huntsworth chief executive Lord Chadlington said of the results: ‘The market is clearly more buoyant than 12 months ago and the outlook is generally more positive. While there are still economic uncertainties throughout the world, our major reorganisation last year is beginning to produce some very positive results and we have 89% of our full year revenues committed. We believe that we are on target to meet full year management expectations and to achieve more than 7% like-for-like revenue growth rates during 2011.’

On a like-for-like basis, revenues grew in three of the group’s four divisions with Huntsworth Health at 7.1%, Red at 5.0% and Citigate at 4.2%.

Grayling, which saw the main impact of the brand rationalisation at the end of last year, saw a like-for-like revenue decline of 4.9% but maintained strong margins and is expected to return to revenue growth before the end of this year.

Huntsworth group chief operating officer Sally Withey and Lord Chadlington discussed the interim results announcement during an interview filmed at the London Stock Exchange this week.

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