Chime acquires three firms and plans online expansion

ñ Chime Communications, the UK based marketing and advertising group headed up by Sir Tim Bell, has announced three acquisitions on the back of its preliminary results for the year to December 1999.

ñ Chime Communications, the UK based marketing and advertising group headed up by Sir Tim Bell, has announced three acquisitions on the back of its preliminary results for the year to December 1999.

Chime reported operating income up 15 per cent to £56.1 million while operating profit rose 27 per cent to £9.9 million.

Chime has acquired two high tech public relations firms, Harvard Public Relations and Insight Public Relations, for £8.4 million and £3 million respectively, and customer magazine publishing firm, Brass Tacks Publishing, for £13 million.

Lord Bell also announced the formation of an internet division, Chime Online, and an intention to acquire web related businesses. The company already owns the web production company, IAB, and the ecommerce consultancy, e-communications.

Commenting on the results, Lord Bell said: "A sparkling performance in the second half resulted in another record year with organic growth and profit margin improvement. Our results have surpassed City expectations. Overall the first two months of 2000 are well ahead of expectations. Importantly we have experienced considerable growth in our Internet related activities."

He added: "This has accelerated in the first two months of 2000. We are today announcing three acquisitions as part of our chime on-line strategy under which we have established an advertising, public relations, design and brand consultancy business. Our future looks very bright indeed."



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