NEWS29 August 2012

CIE sees 18% growth in operating income

Financials UK

UK— Chime Insight and Engagement (CIE) has reported a strong first half to the financial year with operating income growing by 18% and operating profit up 148%. The company also says margin has improved from 9.1% to 19.0%.

Operating income figures show year-on-year growth from £3.9m to £4.6m while operating profit rose from £400,000 to £900,000.

The agency group – which encompasses Facts International, Opinion Leader, Tree, Naked Eye, Open Plan and Watermelon – was praised for its full service capabilities which are providing the “basis for continued improved growth.”

In contrast to last year, Chime says that “all areas of the Insight and Engagement division are now profitable and it is showing strong growth with good future prospects as new services and expertise are introduced into the management plans”. It adds that the newly launched Watermelon Research in particular has “excellent future prospects”.

CIE group CEO Crispin Beale (pictured) said: “This is the result of the hard work of our talented research and insight professionals, as well as our continued investment in the latest technology, ensuring CIE is at the forefront of cutting-edge research solutions.”

The figures were published as part of Chime Communcations’ first-half results, which revealed headline pre-tax profits rose by 47% to £10.9m in the six months to the end of June. Operating income was up 33% ( 19% on a like-for-like basis) to £73.7m.

Chief executive Christopher Satterthwaite said: “CIE is going from strength to strength, developing new services, bringing in experienced new people and servicing clients’ evolving needs above all else.”

Analysts overwhelmingly backed the results adding that Chime is well placed to continue growth across all the businesses for the remainder of the financial year.