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Interim Management Statement

16 Nov 2010 07:00

RNS Number : 2249W
Chime Communications PLC
16 November 2010
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16TH November 2010

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CHIME COMMUNICATIONS PLC

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INTERIM MANAGEMENT STATEMENT

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Chime Communications plc, a leading marketing services group, is today publishing its Interim Management Statement relating to the period 1st July 2010 to 16th November 2010 (as required by the UK Listing Authority's Disclosure and Transparency rules).

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Lord Bell, Chairman of Chime Communications, said:

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"We have continued to perform ahead of expectations in 2010 and we expect our second half performance to exceed that of the first half year.

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Β·; The three acquisitions we made at the end of 2009 and the beginning of 2010 have outperformed our expectations.

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Β·; We have continued to control costs carefully which will result in an improved margin in 2010.

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Β·; 100% of our operating income for 2010 is now confirmed.

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Β·; International income as a percentage of total income continues to grow so we are less dependent on the UK economy.

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Β·; Our Public Relations Group will show our strongest organic growth, well ahead of the marketplace.

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Β·; The Advertising and Marketing Services sector in the UK continues to be flat, but our second half performance will be stronger than our first half.

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Β·; Our Sports Marketing Division has performed well and we believe this will be a strong driver of growth for us in 2011 and beyond.

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Β·; The recovery in our Research Division has continued and there has been further investment in new people. The second half of 2010 will be more profitable than the first half, but the real benefits of our investment are expected to flourish in 2011 and beyond.

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Β·; Our balance sheet remains strong with good cash conversion.

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2010 is proving to be a very good year for Chime and we are feeling confident about our prospects for 2011. All of our top 30 retainer clients (48% of 2010 operating income) have renewed for 2011 or we are in negotiations to renew."

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Ends

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For further information please contact:

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Lord Bell, Chairman 020 7861 8515

Chime Communications

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Christopher Satterthwaite, Chief Executive 020 7861 8515

Chime Communications

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James Henderson/ Victoria Geoghegan 020 7861 3232

Pelham Bell Pottinger

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Notes to Editors

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About Chime

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Β·; Chime Communications plc is the holding company for a number of leading public relations, marketing services, research and sports marketing firms.

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Β·; The Chime Group consists of one of the UK's leading public relations groups, Bell Pottinger; a research and consultation business, Opinion Leader, VCCP, the advertising and marketing services group and Fast Track/Essentially now one of the world's leading sports marketing groups.

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Β·; The Chime group helps clients create, manage, monitor and market their businesses, brands and reputations both in the UK and internationally.

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This information is provided by RNS
The company news service from the London Stock Exchange
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END
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