LONDON: Huntsworth, the holding company of Grayling, Citigate, Huntsworth Health, and Red, reported like-for-like revenue growth of 3.8% in the first quarter, compared with the previous year.
The holding company said Friday that Grayling saw like-for-like revenue growth of 3.8% in Q1, driven by digital and a strong performance in the Middle East. Huntsworth Health's revenue was up 3.3% in Q1, compared with the previous year.
Red's revenue grew 19.4% on a like-for-like basis, after client wins including Boots, Adobe, and Symantec in the past year.
However, Citigate's revenue dropped 2.7% in Q1, compared with the first quarter of 2011 on a like-for-like basis. The holding company cited “subdued” financial markets as a reason for the revenue decrease.
“As the uncertain economic outlook – particularly in Europe – continues, management is keeping tight control of costs and therefore, even with modest full-year revenue growth, expects improvement in operating margins and profitability for the first half and for the year as a whole,” Grayling said in a statement.
The holding company's PR revenue was up 2% on a like-for-like basis in 2011, compared with the previous year.