Aussie Photon Growth sees strong performance in UK PR firms

Photon Group, the Australian-listed marketing services group, has posted a 9 per cent growth in like-for-like revenues in the UK and Europe, driven by the performance of its PR businesses.

UK PR growth: Photon Group
UK PR growth: Photon Group

The group, which owns Frank PR, Hotwire and Skywrite Communications, saw revenue during the full year to June 30 rise to A$117.2m (£59m) compared to A$108m during the corresponding period in 2008.

Chief executive officer, Matthew Bailey said that its UK and European based PR firms had showed ‘strong growth' along with UK based field marketing specialists REL and Retail Insights.

Overall the firm saw revenues increase by 14 per cent to A$653.5m, but recorded a one per cent drop in net profit after tax due to one-off charges.

Executive chairman Mr Tim Hughes said the group had seen the start of a recovery in corporate communications in both Australia and the UK over the past two months.

Photon Group also announced that it is undertaking an equity raising to raise A$114.6m in order to retire debt and strengthen the balance sheet.


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