Positive First Half for Chime

In the UK, marcoms group Chime has reported a 10.9% increase in its Research and Engagement Division's half year adjusted operating profit to £379k. Operating income rose to £3.5m from £3m in the prior year period.

The Research and Engagement Division includes Opinion Leader Research (OLR), field and tab agency Facts International, and recently acquired consumer behaviour consultancy Tree.

In May, Chime reported that the division had returned to profit in the first half of 2010, following a restructure initiated by CEO Crispin Beale.

Beale, who took over from OLR's departing founders Viki Cooke and Deborah Mattinson in March, was previously CEO of Facts International, which saw profits double in 2009. In contrast, 2009 performance from other companies in the Research and Engagement Division was described as 'very disappointing'.

However, in the first half of 2010, revenue rose slightly to £4.7m from £4.5m in 2009. Chime said that while Facts International and Tree had 'performed particularly well' - with Tree contributing revenue of £948k and operating profit of £131k since the acquisition - OLR 'has not yet shown the benefits of the restructuring'.

For the group as a whole, operating profit rose 35% to £12.8m and operating income climbed 22% to £71.1m.

Chime's Public Relations division contributed 49% of group operating income during the period, while Advertising and Marketing Services contributed 25%, Sports Marketing 21%, and Research 5%.

Commenting on the results, Chime Chairman Lord Bell said: 'During the period we have nearly doubled our full year earnings per share and more than doubled our dividend per share. We are delighted with the group's performance and are confident the success story will continue for the full year and beyond.'

Web site: www.chime.plc.uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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