NEWS25 August 2010

Chime research businesses see improvement

Financials UK

UK— Chime has posted improved results for its research division in the first half of this year, after a disappointing performance in 2009.

Adjusted operating profit (excluding £716,000 of costs related to acquisitions and restructuring) was up 10.9% on the same period last year to £379,000. The group said the performance of the division, which includes Facts International, Opinion Leader and newly acquired data analytics business Tree, had improved since the restructuring of the management team and the acquisition of Tree. Opinion Leader’s performance, however, has “not yet shown the benefits of the restructuring”.

The restructure was implemented by new divisional CEO Crispin Beale, who took over after the departure of co-chairs Deborah Mattinson and Viki Cooke earlier this year.

Operating income for the division was up to £3.5m from £3m. For the group as a whole, operating profit was up 35% to £12.8m and operating income was up 22% to £71.1m.

The division’s results for 2009 were described by the group as “very disappointing”, with falls in revenue and operating income, and a £200,000 loss. Meanwhile the group as a whole recorded its “best results ever”.

Chairman Lord Bell (pictured) said: “We are delighted with the group’s performance and are confident the success story will continue for the full year and beyond.”