|Chime reports gains in first half after selling Bell Pottinger|
|Wednesday, 29 August 2012 11:12|
Chime Communications, parent company of scandal-wracked Bell Pottinger, has announced financial growth in the first half of 2012, due in large part to the Olympics. With a repositioning in the market, Chime has shown that it can be financially viable after shrugging off after effects of the Bell Pottinger lobbying ordeal.
The company is reporting a 33 per cent increase in operating income. However, when taking Bell Pottinger businesses into account, Chime’s profit is down 31 per cent. When excluding the PR firm, profit is up 66 per cent.
This year, Chime has sold Bell Pottinger branded businesses for £19.6 million and left the game of geopolitics entirely in favour of focusing on sports marketing and other ventures. The entire public relations department at Chime is being restructured in the Bell Pottinger postmortem.
This has paid off in terms of financial gains. CSM Sports, Chime’s sports marketing subsidiary, has acquired ten companies and has focused on the Games in London and Brazil to great success. London 2012 has boosted profits the sports division by 68 per cent. CSM was a consultant for four Olympic sponsor and managed VIP and guest hospitality throughout the games.
For more on Bell Pottinger and Chime Communications see these stories: