Bullish Chime remains upbeat

Chime Communications, the marketing services group which owns Bell Pottinger, said it continues to perform well despite the difficult economic environment.

Lord Bell: Chairman of Chime Communications
Lord Bell: Chairman of Chime Communications

In a trading update the group said it would report growth in profit before tax, earnings per share and dividend per share and will meet market expectations in terms of income, margins and trading profit.

Also a net debt of £13.2m at the end of June 2008 has been transformed into a net cash holding of over £5m.

It does concede that the outlook for 2009 is uncertain and that it will look to control costs going forward. But it notes that the group is well positioned to increase market share, with its business pipeline ‘surprisingly' full. Committed revenue for 2009 has already reach 60% of target.

The company said it would be ‘concentrating on growth in international, digital, sports marketing, geopolitical and public sector work.'

Its 2008 preliminary results are expected to be announced on 11th March 2009.

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