Restructure Helps Chime's Research Arm to Profit

The Research and Engagement Division of UK-based Chime Communications has returned to profit in the first half of 2010, following a restructure initiated by recently appointed CEO Crispin Beale.

Group Chairman Lord Tim Bell said at today's AGM that Chime is confident that its research arm will return to organic growth in the second half of the year, following the restructure which he said has resulted in 'substantial cost savings'.

In addition, Bell said that the group's recent acquisition of consumer behaviour consultancy Tree will further improve the division's performance.

Chime's research firms - which also include Opinion Leader Research (OLR), Facts International, Ledbury, Naked Eye and digital platform Caucus World - have been managed by Beale since the departure of OLR founders Viki Cooke and Deborah Mattinson, who left earlier in the year to set up their own agency.

Before his promotion to lead the division, Beale was CEO of Facts International, which saw profits double in 2009, in contrast to 'very disappointing' full-year performance from other companies in Chime's research division.

Overall in the first four months of 2010, marketing services group Chime reports 'good growth', and Bell said he expects the group to outperform the 2009 first half year operating income and operating profit, and to 'be ahead of both budget and market expectations'.

'Our new business pipeline is full with the value of new business wins in the first quarter of 2010 over 30% higher than the same period in 2009, which was a record performance for the company. 77% of forecast operating income for 2010 is now committed, compared to 75% at this time last year,' he added.

At today's AGM, among the many resolutions passed was shareholder approval for Chime to press ahead with making future acquisitions.

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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