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Interim Management Statement

12 May 2011 07:00

RNS Number : 4418G
Huntsworth PLC
12 May 2011
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12 May 2011

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Huntsworth plc

("Huntsworth" or "the Group")

Interim Management StatementΒ 

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Huntsworth Wins Β£15m of New Business

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Huntsworth issues this Interim Management Statement to cover the period from 1 January 2011 to date.

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Huntsworth, the public relations and healthcare communications Group, has won over Β£15m of new business since reporting full year results six weeks ago including a 27 country mandate for the European Union, a 17 country programme for DHL, and, the newly acquired Atomic, has been awarded the largest win in its history.Β As a result of these and other contract wins, committed revenues for the Group are now approximately 80% of 2011 full year forecasts on a strongly rising revenue stream.

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As reported at the full year, management expects revenues to be heavily second half weighted as these large accounts come on stream, underpinning our revenue expectations for 2011 and giving added confidence in 2012 organic growth targets.

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The balance sheet remains robust with net debt comfortably within banking covenants.

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Grayling

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Following the 38 country win of British Airways announced in March, Grayling has seen increased client interest in its international capabilities. DHL, the international carrier company, has appointed Grayling in 17 countries and the European Union has appointed Grayling to handle a three year, six million euro, 27 member state anti-smoking campaignΒ and OMV, Central Europe's leading oil and gas supplier, has expanded its relationship into six countries.

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Atomic has been awarded a seven figure fee account - the largest in its history - and has already made seven international pitches alongside their new Grayling colleagues.

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Huntsworth Health

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Huntsworth Health has been appointed by a top ten Pharma company to prepare for the launch of a novel new oncology product. Another top ten Pharma has added Huntsworth to its preferred supplier lists for global assignments in both medical education and medical communications. In addition Huntsworth Health was invited to participate as a member of a new independent network to pitch for 13 individual therapeutic categories at a top ten pharma.

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Citigate

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Citigate continues to build on its position as a leading M&A advisory consultancy and was recently ranked 5th globally by volume in the mergermarket league table. Current projects in the UK include transaction work for the London Stock Exchange, the Yorkshire Building Society and Chaucer Holdings. Internationally Citigate has won a number of new accounts, including the Malaysian Smelting Company and the state of Ontario, Canada in support of its international investment and trade programmes in China.

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Red

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RED has 90% of its 2011 budget committed and has added more blue chip names to its UK client list - including 20th Century Fox, Schweppes Abbey Well and Gatwick Airport.

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Peter Chadlington, Huntsworth CEO, commented "As a direct result of the reorganisation of the Group, we are beginning to see real momentum throughout the Group as the number of global and international opportunities increase significantly. We are confident that we will meet management expectations for 2011 and believe that we are now on course for good organic growth in 2012."

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Enquiries to:

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Huntsworth PLC +44 (0)207 224 8778

Peter Chadlington, Chief Executive

Colin Adams, Group Finance Director

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Citigate Dewe Rogerson +44 (0)20 7638 9571

Simon Rigby

Angharad Couch

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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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