But despite the restructuring, which cost £8.5m, pre-tax profits took a hit and the group is braced for no year-on-year increase in revenues, according to a forecast issued alongside results for the year to February.
Incepta CEO Richard Nichols said the US tech market was largely to blame, alongside a drop-off in corporate activity.
He said there are 'tentative signs of recovery' in the market, but added: 'It's difficult to conclude that we're going to see a significant upturn in activity in 2002.'
Incepta's PR offerings represent 50 per cent of gross revenue, which rose 11 per cent to £170.8m.
The group said financial and corporate PR showed continued growth in the US and Europe, whereas the UK suffered a major decline in IPOs.