Chime's research business sees return to profit in first half
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UK— Chime Communication’s research division has returned to profit in the first half of this year thanks to “substantial cost savings” made by new CEO Crispin Beale, shareholders were told at an AGM today.
Lord Tim Bell, chairman of the marketing services group, said that as well as being back in the black, the research division is expected to return to organic growth in the second half of the year following the restructuring overseen by Beale (pictured).
“The acquisition of Tree, completed in March 2010, will further improve the performance of this division,” said Lord Bell.
Chime’s research revenue was down 28% in 2009, with operating income falling 17% to £5.8m. The division – which houses the agencies Opinion Leader, Facts International, Caucus World and Naked Eye – posted a loss of £0.2m for the year.
Beale was previously CEO of Facts International but took on responsibility for the entire research division in the wake of the departure of Opinion Leader founders and divisional chairs Deborah Mattinson and Viki Cooke.
