Chime's Research Arm Continues Recovery

In the UK, marcoms group Chime Communications has reported continuing recovery in its Research & Engagement division, which includes Opinion Leader Research, Facts International, acefieldwork, CaucusWorld, Naked Eye, Brand Democracy and Tree.

For the first six months of the year, the division saw revenue rise from £4.7m to £5.7m vs H1 2010, while operating income was up 12% to £3.9m. Headline operating profit dipped slightly from £379k to £353k.

In an interim statement covering the period since 1 July 2011, Chairman Lord Bell says the firm's research business is continuing to recover, but notes that its PR division has incurred one-off restructuring costs involving staff and property, due to an early finish to a US Government contract. Accordingly, Chime expects the PR division to contribute less to its revenues in 2012 while its sports marketing arm is expected to grow its share.

Lord Bell comments: 'Our sports marketing business continues to grow both organically and through acquisition and our advertising and marketing services business continues to do very well building on its strong creative reputation and client wins. Our research business is continuing to recover.'

For 2011, Lord Bell says that the group's trading profit, prior to any restructuring costs, will be in line with both budgets and market expectations. He adds: 'We are at that point in the cycle where we need to make some investments. We will continue to be acquisitive, while expecting organic growth from our existing businesses and their expansion into disciplines and geographies in which we do not currently operate'.

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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