Between the Lines: Chime needs VCCP to deliver

The advertising industry has yet to recover from news that Chime Communications was paying more than £30 million to acquire VCCP (page 4).

The holding company's results today reveal why Lord Bell was willing to pay such a high price. Chime's first-half pre-tax profits fell from £3.08 million to £3.03 million.

Until the figures from VCCP trickle through, Chime's reliance on the performance of its Bell Pottinger PR properties is almost total. VCCP is expected to supply 40 per cent of turnover. Bell's looking to diversify.