Chime posts strong first quarter results

Chime Communications, holding company for marketing services agencies, including Vallance Carruthers Coleman Priest, has posted first quarter pre-tax profits up 18% year-on-year.

The pre-tax profits came in at £4.8 million and operating income rose 13% for Q1 year-on-year.

Chime has issued the figures in an interim management statement and they contrast with Q1 results from other marketing services companies such as Interpublic, WPP, Publicis Groupe and Omnicom, which were all reported recently.

Lord Bell (pictured), chairman of the group, says: “The Group’s financial position continues to be strong, we are cash positive and there have been no material events or transactions affecting the Group.”

Chime Communications recently lost out in the battle for the appointment to handle marketing for the London 2012 Olympics. The eventual winner was McCann Erickson.

However, the company stressed it was still involved with London 2012 in a number of ways including handling sponsorship for two Tier One sponsors.