The advertising and public relations market place remains ‘very weak’ according to a trading statement from Chime Communications posted this morning (see Chime Sees ‘Very Weak’ Market Conditions).
H1 revenues to be 10% down Recent trading is showing some signs of improvement, but against the background of a weak start to 2002 management’s current expectation is that revenue for the six months to 30 June 2002 will be just over 10% lower than the second half of 2001, the statement said.
Chime says that both it and its international competitors have witnessed more severe weakness in the UK and the rest of Europe than elsewhere in the world.
In March the company said that H2 2002 should be better than H1 (see No Recovery Until Second Half Says Chime Communications); that remains the view but it believes that the recovery may be slower than anticipated.
