CIA has this morning announced interim results for the 6 months ended 30 June. Although turnover was up by 14% to a record £242m, profits were down 27%.
The decrease in profits was predicted, due to major UK clients moving their advertising spend to the second half of the year. Chairman Chris Ingram commented, “We are confident that a strong second half will produce a satisfactory outcome for the year. For the foreseeable future we see continuing, exciting opportunities for our Group.”
The CIA Group has recently won new business from several multi-national clients, including Calvin Klein, Microsoft and Olivetti.
CIA’s shares fell by 4p this morning to 139p.
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