The World: Sydney - Photon predicts 20 per cent increase in earnings

Photon Group, the parent company of Britain's Naked Communications, has predicted that it will see a 20 per cent increase in earnings for the 2009 financial year.

The group, which also owns agencies including BMF and BWM, forecast its earnings in the range of AUS$90 million, with the majority of its growth coming from public relations, field marketing and internet marketing, as well as from some of its larger ad agencies.

In the forecast, the group revealed that it had made a total of 181 redundancies so far this year, with the collective costs of redundancies and restructuring amounting to around AUS$2.5 million.