By Kevin McCauley
Chime Communications plans to cut PR staff and take a restructuring a charge due to the earlier than anticipated wind-down of Bell Pottinger’s pact with the State Dept. for Iraq and Afghanistan-related communications.
CEO Lord Bell said Chime “continued to trade well in a difficult environment.” He noted that without the U.S. work, sports marketing now becomes a bigger part of the overall revenue base.
Prior to the restructuring charge, Chime expects 2011 profit to “be in line with both our budgets and market expectations,” said Bell in a statement.
While PR is growing, Bell sees the need to make investments in that sector. Chime will be acquisitive and Bell expects “organic growth from our existing businesses and their expansion into disciplines and geographies in which we do not currently operate.”
Bell, however, said the weak economy will prevent Chime from matching its growth rate of the last few years.
Chime’s other PR units include Good Relations, Harvard, Resonate and Search Relations.
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