Great Long Termer6 May 2009 23:19
Another 22% up. This really is a great company.
Chime Communications plc, the leading marketing services group, is today publishing its Interim Management Statement relating to the period 1st January 2009 to 6th May 2009 (as required by the UK Listing Authority’s Disclosure and Transparency rules).
Lord Bell, Chairman of Chime Communications, said:
“We have had a strong first quarter and we are confident about achieving our first half year expectations.
There has been such a large amount of interest in the first quarter results of the major marketing services groups, we thought it would be helpful to report our first quarter experience. Unlike these groups our operating income for the first quarter of 2009 was 13% higher than the first quarter of 2008, pre-tax profits were 18% higher than 2008 at £4.8million and the operating profit margin increased to 17.2%
The Group's financial position continues to be strong, we are cash positive and there have been no material events or transactions affecting the Group.
Much has been made in the media about the invitation by The London Organising Committee of the Olympic and Paralympic Games (LOCOG) to a marketing communications agency to become a tier three sponsor of the 2012 Olympic Games. We had held the marketing communications contract on a fixed one year term. Although we are disappointed not to have renewed our contract it would have required us to invest up to £10 million. We wish McCann