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NEWS25 March 2015

Chime reports 10% growth in operating profits with revenue up for CIE

Financials News UK

UK — International comms and sports marketing group Chime Communications saw like for like operating income grow 6% to £198.9m, profits increase 10% and pre-tax profits rise 6% to £30.1m in 2014.

The group is now split into four operating divisions: Sports and Entertainment; Advertising and Marketing Services; Healthcare Communications and Insight and Engagement reported strong growth in income and profits across all divisions for the financial year ended 31st December 2014.

While the performance of its Advertising and Marketing Services was particularly strong, with double digit income growth ( 11% increase in like for like operating income) and margin improvement, it said Healthcare and Insight and Engagement divisions also continued to grow ahead of the marketplace.

The Insight and Engagement division includes specialists brands such as digital agency Watermelon; recruitment agency CherryPicked, fieldwork agency Facts International and full service agencies Opinion Leader and CIE. 

Insight and Engagement saw like for like operating profit increase 10% with operating income remaining flat at £9.1m. The company said the growth in its operating profit was mainly due to its high margin digital research business and the development of a ‘full service’ offering to the research and insight marketplace. CIE increased its revenue to £13.6m, up 23% on 2013.

Chime Insight & Engagement Group CEO, Crispin Beale (pictured), said: “With the research market in continued growth and real-time insights a fast-growing priority for clients, we expect our mantra of “Winning, Keeping, Delivering” to stand us in good stead for continued strong performance in the year ahead.”

International expansion has been a major part of Chime Communications’ growth strategy and income from overseas offices increased by 53% in 2014 and as a percentage of total income increased from 18% in 2013 to 24% in 2014. 

@RESEARCH LIVE

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