Chime Communications posts operating profit up 15 per cent
By Matt Williams, campaignlive.co.uk, Wednesday, 11 March 2009 08:50AM
LONDON - Chime Communications, the group that owns agencies including VCCP, Bell Pottinger and Stephens Francis Whitson, recorded an increase in operating income of 16 per cent in 2008, with a rise in operating profit of 15 per cent.
The group's profit margin for 2008 was 16.2 per cent, a 0.1 per cent decrease from the profit margin recorded in 2007.
Chime's public relations service saw the highest growth in operating profit out of all of its sectors, with a 30 per cent year-on-year rise in profits to £12.1 million.
Of its advertising and marketing services businesses, the group saw a 26 per cent increase in operating income, rising from £34.7 million to £43.8 million, while operating profit grew 11 per cent to £6.2 million.
However, Chime's research division saw its operating profits fall by 73 per cent, and operating income drop from £7.7 million to £7.0 million.
Lord Bell, the chairman of Chime Communications, said: "2008 has been a very successful year of double-digit growth, although the outlook for 2009 is uncertain. So far, the impact on businesses affected by the economic downturn has been offset by growth in other businesses."
This article was first published on campaignlive.co.uk
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