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Rapid Growth for Chime's Research Arm
In the UK, communications group Chime has announced double digit growth for its research division in 2007, with operating income up 64% to £7.7m and an increase in operating profit of 37% to £1.4m. Operating margin fell slightly to 18.1% from 21.7% last year.
Pre-tax profits for the group as a whole climbed 25% to £13.8m in 2007, up from £11m in 2006. Revenue rose to £206.6m from £164.1m last year. PR contributed 53% to the group's operating income during the year, while Advertising and Marketing Services added 39%, and Research brought in 8% (up from 6% in 2006).
Chairman Lord Bell said that it had been another terrific year, and added that there was no sign of a slowdown in the first quarter of 2008, nor for the rest of the year.
Chime is the holding company for a number of PR, marketing services and research consultancy firms - including social research specialist Opinion Leader Research, luxury brand consultancy Ledbury Research and fieldwork firm Facts International (75% of which was acquired by Chime last year, with the remaining 25% held by Facts' Chairman Nick Lamb www.mrweb.com/drno/news6454.htm ).
Lord Bell, who is best known for his PR involvement with the Conservative Party, said Chime had not been hit by any economic downturn. 'There appears to be little connection between the turbulence in the financial markets and the real economy. The markets, as evidenced by the current low rating of our business and some of our competitors, are predicting an economic downturn. We are experiencing no sign of that,' he said.
The group is on the web at www.chime.plc.uk.
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