Sign In
13 Nov 2008 07:00
CHIME COMMUNICATIONS PLC
INTERIM MANAGEMENT STATEMENT
In the ten months to 31st October 2008 the Group has continued its strong performance so that the results for the first ten months of 2008 outperform the first ten months of 2007 and therefore the Group remains well positioned to achieve expectations for the full year.
The Group has continued to control costs carefully and as a consequence the margin for the first ten months of 2008 is also ahead of last year.
Public Relations
There are fifteen businesses within our public relations business and twelve of these have achieved higher profits in the first ten months of 2008 than in the same period in 2007. There were particularly strong performances in the areas of public affairs, the Middle East, geo political (Bell Pottinger Sans Frontieres) and digital.
Advertising and Marketing Services
The VCCP Group has performed ahead of 2007 in the first ten months of 2008. Our sports marketing business Fast Track, our financial services business Teamspirit and our property marketing business TTA have also done particularly well. We are particularly pleased that despite a gloomy advertising sector, VCCP has won Hiscox, Standard Life, been put on the 118118 roster and retained comparethemarket.com and the Qatar Financial Centre.
Research
The performance of our research division (which is approximately 7% of our operating income) continues to be disappointing with profits for the first ten months of the year being below the same period in 2007. The lower profits in this division have been more than offset by the strong performance of our other two divisions. The poor performance is partly due to market conditions (lower spend on research) and partly due to an investment in a new digital product.
Although there is widespread uncertainty about the economy, we have confidence in our diversified business model, our careful cost control and our cash management. We think we are in a position to grow market share in 2009.
For further information please contact:
Lord Bell, Chairman 020 7861 8515
Chime Communications
Christopher Satterthwaite, Chief Executive 020 7861 8515
Chime Communications
Charles Cook / Chris Hamilton / Helen Tarbet 020 7861 3232
Bell Pottinger Corporate & Financial
Follow the stocks
