LONDON—Lord Peter Chadlington’s Huntsworth—parent company to public relations firms including Citigate, Trimedia, Global Consulting Group, Grayling and The Red Consultancy—has announced revenue growth of around 29 percent and organic growth in its core public relations business of 6.7 percent for the year ended December 31.
Huntsworth revenues for 2006 were £139.7 million ($274 million) and profit before tax and highlighted items of £17.7 million ($34.7 million). In addition, the firm added £53 million of net new business during the year.
Chadlington described 2006 as a “very successful transitional year. Our organic growth gives us confidence for the future and the strategic acquisitions that we made at the end of 2006 are settling in very well. The first two months of trading in our new financial year suggest that we will continue to build on our achievements in 2007.” Those acquisitions included Mmd, a public affairs firm with operations throughout Eastern Europe, where Chadlington says the group was seeing growth of more than 10 percent.
Overall, Chadlington says, the group anticipates annual revenue growth of between 5 percent and 6 percent, and remains committed to achieving a 20 percent operating margin before central costs.
In 2006, the U.K. accounted for 48 percent of the group’s business and continental Europe 23 percent, but Chadlington says he sees increased opportunities in the U.S. in both public relations and public affairs. Huntsworth acquired healthcare communications specialist Dorland earlier this year, and other acquisitions are expected in 2007.