NEW YORK: FTI Consulting’s strategic communications segment saw an 8% revenue increase in the fourth quarter to $54.3 million.
The group reported $4.8 million in operating income for the quarter, down 26.2%.
The firm saw higher retained revenues from public affairs and corporate reputation work in EMEA in the period.
"The regulatory environment in EMEA has gotten more challenging for companies," said Mark McCall, CEO of strategic comms at FTI. "As Brexit becomes more defined, that will continue to drive our business."
The company’s total Q4 revenue was up 5.8% in the quarter to $467.7 million. Operating income increased 323% to $34.5 million, and net income increased 942% to $66.9 million.
McCall added that FTI has seen growth from its public affairs and government affairs business as a result of elections.
The strategic communications segment earned $192.5 million in revenue for the full year, up 0.7% from 2016. Full-year operating income for the segment was $13.2 million, down 42.9% from 2016.
As a whole, FTI revenues were down 0.1% in 2017 to $1.8 billion. Full-year operating income for the company decreased 23.6% to $108.7 million. Net income increased 26.2% to $107.96 million.
FTI’s other segments reported a mixed bag of results in the fourth quarter. Corporate finance and restructuring jumped 15.2% to $130.5 million, while forensic and litigation consulting saw a 14.6% boost to $120.9 million. Both economic consulting and technology dropped, by 6.4% to $121.1 million and 5.9% to $40.9 million, respectively.
For the full year, corporate finance and restructuring reported revenue of $482 million, down 0.3% from last year. Forensic and litigation consulting saw $462.3 million in revenue, up 1%. Economic consulting reported $496 million in revenue, down 0.9% from the year prior. Technology was also down for the full year, by 1.6% to $174.9 million.
The company did not disclose organic revenue for the fourth quarter or all of 2017.