Chime’s ad division sees 58% profits hike

Chime Communications’ has reported that profits in its advertising and marketing services group increased by 58% in the first half of the year.

The division, which includes Vallance Carruthers Coleman Priest, registered operating profit of £3.8m in the six months ended June 30, up from £2.4m in the comparable period last year.

Pre-tax profits across Chime rose 27.3% to £8.2m on operating income of £54.5m. Lord Bell (pictured), chairman of Chime Communication, says he is “delighted” with the group’s first half performance and that the group is well placed to meet its expectation for the full year.

“It is widely predicted that economic growth will slow in 2009, but our strategy of a diversified group of businesses will protect us,” he adds.

The group’s public relation division, its largest department accounting for 51% of operating income, saw operating profit rise 17% to £5.1m.

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