Chime Communications PLC - Annual General Meeting, Interim Management Statement

Chime Communications plc, the international communications and sports marketing group, announces its interim management statement relating to the period from 1st January 2014 to 14th May 2014 (as required by the UK Listing Authority’s Disclosure and Transparency rules) ahead of its Annual General Meeting today.

Summary

• Good start to 2014 with trading in line with expectations
• Continued progress with Brazil FIFA World Cup and Glasgow Commonwealth Games
• 77% of total Group operating income for 2014 is now committed, ahead of the same time last year (75%)
• New client wins so far this year include:

Sport and Entertainment

2014 is a very important year for this division with three major events.  The fees generated by the Winter Olympics in Sochi, whilst relatively small, were in line with expectations and we continue to be encouraged by the progress we are making on the World Cup and the Commonwealth Games.  Other parts of the division are trading well, particularly work in rugby, cricket and motorsports.

Advertising and Marketing Services

This division has continued its double digit operating income growth so far in 2014 whilst focusing on consolidating and developing the major new business wins from 2013, particularly Asda which was won in the last quarter of 2013.

Public Relations

In 2013 operating income was better in the first half year than the second half year.  The run rate for 2014 operating income so far is better than the run rate for the second half of 2013 and the division is on track to achieve our full year expectations. 

Healthcare

Client delays have impacted on the start of the year and although we are expecting good income growth in 2014, the rate of growth is likely to moderate from 2013 levels.

Insight and Engagement

2013 was another good year for this division and so far in 2014 that momentum has continued particularly in the digital research business, Watermelon.

Board Appointment

We are pleased to announce that Lord Coe is today joining the Board of Chime.  He is currently Executive Chairman of CSM Sport & Entertainment, Chime’s sport and entertainment business.

Christopher Satterthwaite, Chief Executive of Chime Communications, said:

"2014 will be a year of strong growth for Chime and we are on track. I am also delighted to welcome Lord Coe to the Board.  He is a great asset to CSM and I know will make a huge contribution to the overall development of Chime."

Enquiries

Christopher Satterthwaite
Chief Executive
Chime Communications
020 7096 5888

Mark Smith
Chief Operating Officer and Finance Director
Chime Communications
020 7096 5888

James Henderson / Victoria Geoghegan / Elizabeth Snow
Bell Pottinger
020 7861 3925