Chime confident of improved first half

LONDON - Advertising and PR group Chime Communications is confident that it will report an improved set of first-half results, despite the global economic downturn.

Chairman Lord Bell said the group's PR business was growing ahead of budget and that two of its recent acquisitions, advertising agency Roose & Partners and PR firm Good Relations, were particularly strong and were growing ahead of budget.

HHCL & Partners, which accounts for around 21% of Chime's business, is experiencing client budget delays and some revenue falls. However, Lord Bell said it has tightened its belt and extended its remit to a more international offering.

Chime's new business wins this half inclue MFI, Sony Siemens, UK Online, De Beers and the Beijing bid for the Olympics.

During 2000, Chime paid £41.5m for six acquisitions including high-tech PR firm Harvard and customer magazine publisher Brass Tacks. This year has broken into the US market by purchasing LNS Communication for £11m.

Chime's share price fell 50p this morning in London to 156.5p.



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