UK public relations and advertising company, Chime Communications, this morning said that it is positive about its future, despite seeing no improvement in market conditions before 2002.
Chairman Lord Bell said that Chime’s interim financial results ‘show the group’s strength and are extremely satisfactory’, coming in a period when the market ‘continues to be very demanding.’
Pre-tax profits rose by 31% to £8.4 million and operating profit wsa up 42% at £9.0 million. Chime believes that it is on target to meet its full year market expectations at operating profit level. Nevertheless, the business is being run ‘cautiously’ given the uncertain outlook for the near-term future.
“The first quarter was very strong, the second quarter was weaker and as I said at the time of the Annual General Meeting we are bearing down on costs and restructuring our business to fit market conditions,” said Lord Bell.
By 1:15pm today, stock in Chime Communications was up 4p at 137½p.
