LONDON—Huntsworth, the global public relations and healthcare communications group that owns Citigate Dewe Rogerson, Grayling and The Red Consultancy among others, has reported “significantly higher net new business” activity in the first quarter of 2010 compared with the same period in 2009. Net new business wins were up 33 percent on a like-for-like basis and the company says it now has committed revenues of 80 percent against revenue targets for 2010. As a result, the group expects to return to revenue growth during the summer.
According to Peter Chadlington, Huntsworth’s chief executive, “Despite the low comparator base of the previous year, the strong new business flow we have seen in the first quarter of 2010, the level of revenues already committed for the full year and our growing ability to win bigger and more international mandates gives us confidence that Huntsworth will not only return to growth during 2010 but also that we are on track to meet our ambitious target of doubling our historic organic growth record during 2011.”
The biggest beneficiary has been the Citigate brand, with the stronger financial markets helping drive new business 51 percent ahead of 2009 on a like-for-like basis, with recent transactional work including advising Tullow Oil on its acquisition of assets in Uganda, Investec Bank on its successful acquisition of Rensburg Sheppards and the first two Russian companies to list in Russia in 2010, Protek and Russian Sea.
Following the rebranding at Grayling, 80 percent of 2010 revenues are now committed with new business 25 percent ahead of Q1 2009. The has won a number of significant multi-office, international accounts including its largest client to date, The Portuguese Cork Association, which came with a seven figure fee. Other wins include Nabucco Gas Pipeline, Sony Pictures Television in the Baltic States and a retained contract from The Economist Group in Germany, Turkey, Italy and Spain.
New business in the first quarter at Red is 13 percent ahead of 2009, and recent wins include Avis and Budget; Kelkoo; the Health & Safety Executive; and Mundipharma, for the European launch of a new rheumatoid arthritis treatment.