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FTI Comms Unit Hit By Q4 Slump In Project Fees
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FTI Comms Unit Hit By Q4 Slump In Project Fees

Revenues from FTI Consulting's strategic communications practice dropped 6.8% in the fourth quarter of 2013.

Holmes Report

WEST PALM BEACH—Revenues from FTI Consulting's strategic communications practice dropped 6.8% in the fourth quarter of 2013, according to results reported today.

The decline meant that FTI's communications unit ended the year down by just under 1%, to $186.2m from $187.8m in 2012.

Fourth quarter revenues, the company reported, were hit by  "reduced pass-through revenues and project revenues in EMEA and North America". FTI's comms division earned $46.9m in Q4 of 2013, down from $50.3m year-on-year.

The comms unit's profitability was also hit, with EBITDA falling to $18.7m in 2013 from $25m in 2012, a decline of more than 3% to 10.1% of segment revenues. In Q4,  EBITDA dropped to $5.9m from $8.7m, a fall of almost 5% to 12.6% of revenue. The company blamed a lack of "high-margin project fees" in EMEA and North America.

 

 

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