Incepta - the parent group of City consultancy Citigate Dewe
Rogerson - this week gave fresh hope for the PR industry amid concerns
of a recession as it announced a doubling in profits.
The marketing services group exceeded City expectations when it posted
its year-end results to March, showing profits up 104 per cent to pounds
27.8m and revenues up 99 per cent to pounds 153m.
Incepta CEO Richard Nichols said the results confirmed financial and
corporate PR is more resilient to an economic downturn than the industry
'The need for corporate and financial PR is as important in a downturn
as in an upturn,' he said.
'For the PR industry this is very much a vote of confidence and a clear
message that financial PR is a hard-edged business even in a
The group's US technology arm, Citigate Cunningham, has taken a knock in
profits forcing the firm to axe 40 jobs earlier this year, although its
UK hi-tech offering Citigate Technology has not yet felt the effects of
the tech slump.
Beeson Gregory media analyst Hector Forsythe said: 'Incepta's results
are not all roses but it's not as dire as people might have expected it
to be at this stage.'
Incepta's recent acquisitions, which account for much of the profits
leap, include UK consumer specialist The Red Consultancy.