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15 May 2013 11:22
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Chime Communications PLC
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("Chime" or the "Company")
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Annual general meeting, Interim management statement
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Chime announces its interim management statement relating to the period from 1st January 2013 to 15 May 2013 (as required by the UK Listing Authority's Disclosure and Transparency rules) ahead of its Annual General Meeting today.
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Summary
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Trading conditions so far in 2013 seem similar to 2012 and we are continuing to develop our business in line with our stated plan. As expected 2013 is a challenging year following the success of 2012, which included extensive work for Olympic sponsors. However over 75% of total Group income for 2013 is now committed and we are encouraged by the new business opportunities so far in 2013 although it is a second half weighted year. We remain positive about our future prospects particularly for 2014 which is a FIFA World Cup year.
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Sport and Entertainment
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"Even" years for this division are likely to be stronger than "odd" years as Olympic Games and FIFA World Cups boost overall spends. In addition much of the sporting activity in 2013 falls in the second half of the year, so income to date in 2013 is lower than the level achieved in 2012. However, growth prospects for this division remain strong particularly following the appointment of Lord Coe as Executive Chairman in January this year. We have already won clients in both Russia (Sochi) and Brazil ahead of the Winter Olympics and FIFA World Cup next year. Income from these client wins will come through in the second half of 2013 and 2014.
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Advertising and Marketing Services
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Income so far in 2013 is over 10% higher than the same period in 2012 and the margin is also improving. This division continues to expand internationally and there have been new business wins in Spain and Australia as well as in the UK.
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Public Relations
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The Public Relations Division has been rebranded as the Good Relations Group and its new strategy is proving successful. Income in 2013 so far is over 10% higher than 2012 and further progress is expected once the new Group Chief Executive Jackie Brock-Doyle joins in June.
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Healthcare
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Following the investments we made in 2012, income in 2013 to date is more than double the same period in 2012. We see this division as a key driver of growth in 2013.
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Insight and Engagement
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2012 was an outstanding year for this division and thus far 2013 income has been marginally better than during the same period in 2012. It is a challenging market but we continue to win market share and expect the division to continue to grow.
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Commenting on this statement, Christopher Satterthwaite, Chief Executive of Chime Communications, said:
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"We are pleased with our start to 2013 although it is a year weighted towards the second half".
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Enquiries
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Christopher Satterthwaite, Chief Executive 020 7096 5888
Chime Communications
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Mark Smith, Chief Operating Officer and Finance Director 020 7096 5888
Chime Communications
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James Henderson / Victoria Geoghegan / Elizabeth Snow 020 7861 3232
Pelham Bell Pottinger
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Notes to Editors
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Chime is an international communications and sports marketing group, including CSM Sports & Entertainment, the VCCP Partnership in advertising, The Good Relations Group in public relations, Open Health in healthcare communications, Teamspirit, a specialist in financial and professional services and CIE, an insight and engagement agency.
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For more information, please go to www.chimeplc.com
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