Profitability among U.S. PR firms ticked up 0.2% on average in 2012 to 18.8%, but average retainer fees declined and solid gains at mid-sized and large firms offset a decline at smaller shops, according to an annual survey by StevensGouldPincus.

The 2012 average profitability figure comes in well above its 2009 recession nadir of 13.5%, but still short of the 2007 peak of 19.7%, said SGP partner Rick Gould.

Firms with under $3M in revenue, typically more volatile than larger firms, saw profitability decline nearly 9% to 18.7% in 2012, while mid-sized shops ($3M-10M) rose from 17.4% to 18.2% and ($10M-25M) 16.8% to 19.2%. Large firms (over $25M) saw profitability jump from 18.6% to 21.4%.

Average monthly minimum PR fees declined nearly 3% to $9,609, while productivity was essentially flat as revenue per professional staffer came in at $210,539, compared with $209,945 in 2011.

Gould said the 11-year-old Best Practices Benchmarking Survey found Canadian firms more profitable on average (22.6%) than their U.S. counterparts. "The Canadian firms are well managed, with a sharp eye toward cost controls and profitability analysis," he said.

SGP says it will release the study on demand on August.