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Chime Profits Climb
UK-based Chime Communications, which owns MR agencies Opinion Leader, Ledbury Research and Facts International, has reported a 29% increase in its first quarter profits as a result of tight cost controls. Double-digit growth was reported across all areas of the business.
Margin levels were maintained and the group achieved approximately 25% of its operating profit target for the year in the first quarter, compared with under 20% in previous years.
Commenting, Chairman Lord Bell said: 'Our terrific performance in 2007 has continued into 2008. We believe our first quarter performance and our strategy of bearing down on fixed costs has put us in a strong position to meet our full year expectations, even if the predicted slowdown does occur in the second half of the year.'
Chime is the holding company for a number of public relations, marketing services and research consultancy firms. In 2007, operating income for its research arm rose 64% to £7.7m. Later this year, the group plans to launch a new online research business. Last month, it acquired a share of video-based ethnographic research firm Naked Eye.
Web site: www.chime.plc.uk .
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