LONDON—Lord Chadlington’s Huntsworth Group, parent to the Citigate, Global Consulting Group and Trimedia public relations brands, reported a full year pre-tax loss—attributable to its acquisition last year of Incepta Group—but says it sees current first half trading exceeding market expectations.
The group said pre-tax losses were at £29.98 million, after a profit of £1.5 million the year before. Sales increased to £154.87 million from £60.9 million. Public relations now represents 90 per cent of group revenue.
According to Chadlington, chief executive of Huntsworth, “Over the last year Huntsworth has been transformed into one of the leading independent public relations businesses. The integration following the merger is now complete and we are already delivering a margin of 18.6 percent before central costs, advancing towards our target margin of 20 percent.
“The momentum developed in 2005 has continued into 2006 and current trading indicates that Huntsworth is set to exceed market expectations for the half-year.”
Chadlington said the company’s key growth opportunities would be in China, India and eastern Europe but added that he was ”in no rush” to make acquisitions.