Lord Chadlington's new regime at The Huntsworth Group has
successfully stemmed losses at the PR firm as it reported profits of
£28,000 for the six months to 30 June.
The figures compare with losses of £278,000 for the same period
last year, and will be seen as a triumph for a cost-cutting strategy,
which has seen two of the firm's four offices close, and headcount cut
by a third.
Recent acquisition Harrison Cowley, bought for up to £25m in
August (PRWeek, 3 August), is omitted from the figures, as are Woodside
Communications and Stephanie Churchill PR, bought for a total of £5.3m in May (PRWeek, 4 May).
Huntsworth recorded a slight increase in revenues, which rose to £2.8m, boosted by the addition of clients such as Pfizer and Smith &
The group has cleared £6.7m debts and is now £1m in credit.