LONDON: Chime Communications has bucked the trend of slumping
corporate revenues and profits, posting a set of record half-year
The company unveiled its six-month accounts on Tuesday, with income up
37% to £50.9 million ($74.4m), and pre-tax profit up 31% to
£8.4 million ($12.3m).
Most astonishingly, the firm's group-wide profit margin crept up
fractionally, to almost 18%.
"We have continued our growth rate for the first half of 2001," chairman
and CEO Lord Bell said. "People have talked about a slowdown in PR, but
we have not experienced it." He added, "Sure, the growth rate will get
slower for the second half of the year because times are harder, but
that just means we have to be more competitive."
In a statement, the company said, "Overall, our PR businesses have
experienced some client expenditure delays, but their performance has
been more than satisfactory."
The PR businesses - Bell Pottinger Communications and the Good Relations
group, which includes QBO - saw operating profit climb by 42%.