WEST PALM BEACH, FL: The strategic communications unit of FTI Consulting, formerly FD, reported a 3% year-over-year revenue increase in the third quarter to $51.8 million.
FTI reported overall revenue of $413.8 million in Q3. It is the highest quarterly revenue number in the company's history and a 20% year-over-year increase from Q3 2010.
Last quarter, FD posted revenues of $46.4 million, representing 7.3% year-over-year growth.
Beth Saunders, Americas chairman of the FTI Consulting Strategic Communications practice, said the dip in quarter-to-quarter revenue is reflective of a weakness in capital markets, specifically in the UK.
“All of our top 10 clients are essentially expanding or stabilizing, which I think in a difficult marketing environment is top notch, but I do think that we are still suffering a bit from a weakness in capital markets, and that's heavily stated in the UK,” she continued. “It's still a tough spot in that business.”
Saunders also confirmed to PRWeek that FTI's Strategic Communications practice is “playing a very, very important role” in ongoing strategic communications for MF Global, which filed for Chapter 11 on Monday. The work includes restructuring efforts for the company, stemming from a client relationship that began nearly four and a half years ago when MF Global filed its IPO.
Saunders added that the Americas region continues to perform well due to expanded business in Latin America, particularly in Colombia and Brazil. She also pointed to significant growth in Asia and Australia.
Life sciences and oil, gas, and energy continue to be strong industries for FTI, Saunders added. The group managed client Transocean's buyout of Norway-based Aker Drilling for $1.46 billion.
The financial communications side has counseled the SABMiller Transaction, as well as ongoing communications and restructuring work for Eastman Kodak.
In September, the company formerly known as FD Americas was rebranded as the strategic communications practice of FTI Consulting. The integration plan, announced in January, also included the rebranding of the company's previously acquired firms.