Huntsworth today reported a 13.7 percent decline in first-half operating profit to $15.7M on flat revenues of $137.8M.
The economic slump in the U.K and Continental Europe took a toll on the British company’s Grayling unit, which generates 45 percent of overall revenues. It reported a 7.2 percent slide revenues to $62.6M. Profit fell 36.7 percent to $8.5M.
Grayling CEO Pete Pedersen, the Edelman alum who joined in March, has unveiled a plan to bolster its digital capability and build market share in the U.S. and Asia.
The unit is stepping up its strategy to transition from single office clients to one where the client is served from multiple offices.
Huntsworth Health, which accounts for 33 percent of revenues, registered a 9.7 percent jump in revenues to $45.7M and a 12.7 rise in profit to $9.6M.
Consumer unit Red earned $2.6M (+21.4 percent) on $10.7M in flat revenues. Financial wing Citigate posted both flat revenues of $19.7M and $3.9M in profit.
Huntsworth CEO Peter Chadlington said the firm is “on track to meet full year management expectations.
He looks forward to the $56.6M cash investment from China’s BlueFocus that is expected next month.