Chime’s ad division sees 58% profits hike
Chime Communications’ has reported that profits in its advertising and marketing services group increased by 58% in the first half of the year.
The division, which includes Vallance Carruthers Coleman Priest (VCCP), registered operating profit of £3.8 million in the six months ended June 30, up from £2.4 million in the comparable period last year.
Pre-tax profits across Chime rose 27.3% to £8.2 million on operating income of £54.5 million.
Lord Bell (pictured), chairman of Chime Communication, says he is “delighted” with the group’s first half performance and that it was well placed to meet its expectation for the full year.
“It is widely predicted that economic growth will slow in 2009, but our strategy of a diversified group of businesses will protect us.”
The group’s public relation division, its largest department accounting for 51% of operating income, saw operating profit rise 17% to £5.1 million.
VCCP Digital was appointed by the Department of Health in January to develop an online campaign highlighting the dangers of binge drinking.
Cheapflights appointed VCCP Search to manage its paid-search account in March.
VCCP lost the ING Direct account in March to Beattie McGuiness Bungay.
Although out of this reporting period, VCCP last month won a £3 million project from the Food Standards Agency.
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