25th Mar 2015 09:49
LONDON (Alliance News) - Chime Communications PLC Wednesday posted a swing to a pretax profit in 2014, as revenue was boosted by a particularly strong performance from its advertising and marketing services division, and a rise in average fee per client.
The communications and sports marketing firm proposed a final dividend of 5.87 pence, taking its total dividend for the year to 8.40 pence from 7.34 pence a year before.
Chime posted a pretax profit of GBP15.8 million in 2014, swung from a pretax loss of GBP4.7 million in 2013, as revenue rose to GBP390.4 million from GBP299.2 million.
Average fee per client for the year was GBP110,000, compared to GBP99,000 in 2013, with 289 clients paying over GBP100,000 in the year compared to 247 the year before.
The company restructured its business from five divisions into four, rolling its Public Relations division into two other businesses.
It has won net new businesses of GBP31 million for 2015 so far, compared to GBP23 million in the same period in 2014. Two contracts which were delayed from 2014 are in the final stages of negotiation, Chime said.
"Our communications businesses continue to grow and with the proportion of shared clients also increasing, we are sharpening our competitiveness as an international communications and sports marketing group," said Chief Executive Christopher Satterthwaite in a statement.
Shares in Chime are trading up 2.8% at 267.05 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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