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Posts Tagged ‘Huntsworth’

Huntsworth Reports Slight Increase in 2011 Revenue, Decrease in Profits

ICYMI (because we did): Huntsworth announced its financial results for the year ending December 31, 2011, reporting a revenue increase of 1.5 percent to £176.3 million (about $279.7 million by today’s conversion standard). In 2010, the revenue figure was £173.6 million.

However, operating profits after central costs are taken into account decreased to £23.5 million (about $37.3 million) from £29.6 million in 2010. And profits before taxes but after highlighted items was down to £10.6 million from £21.8 million in 2010.

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Huntsworth Reports Revenue Growth But Expects Shortfalls

Huntsworth reported a seven percent increase in like-for-like revenue for the period starting June 30, 2011. However, due to year-end cancellations totaling a whopping £4 million (about $6.32 million according to today’s conversion rate), the company says it will not meet profit expectations.

On the positive side, the company’s individual firms reported gains over the past few months. Citigate revenue is up 15.5 percent, Red is up 15.6 percent, and Grayling is up 5.2 percent. The company said that it won “seven-figure” international accounts.

But, the economy has taken a toll.

“The timing of these cutbacks coming so late in the year will not enable us to reduce costs accordingly. We therefore expect to fall short of management profit expectations by £4m,” company COO Sally Withey said in a statement.

Europe and the U.K. have been hurt by cuts across consumer, environmental, and CSR programs. In the U.S., the pharma industry has been uncertain.

Dutko and Grayling Merge

Huntsworth has merged Dutko Worldwide and Grayling to create (hold on now) Dutko Grayling.

Huntsworth CEO Lord Peter Chadlington is calling the new agency “a lobbying firm-plus.” Perhaps the “plus” stands for “plus more more cash.” According to The Hill, Dutko has seen its lobbying revenue take a steep hit; from $8.8 million for the first half of 2010 to $6.2 million for the first half of this year. Nevertheless, the firm says it’s hiring. And Lord Chadlington reasserted the firm’s commitment to becoming a bigger player in the U.S. in a statement.

Mark Irion, CEO of Dutko Worldwide, will lead the PR and public affairs division. David Beightol will lead state and local government lobbying. Craig Pattee will head up the education policy and risk management consulting group. And both Andy Wright and Kim Koontz Bayliss will lead the federal lobbying division.

Congressional Staffers Flock to the Political Dark Side

Bennett, Christian Science Monitor

A study published on the site LegiStorm, a site that calls itself “transparency’s sidekick,” found that 5,400 congressional staffers became lobbyists in the past decade. Nearly 400 lawmakers made the move. Only 604 lobbyists left their jobs to work for lawmakers.

The firm attracting the most congressional talent is Podesta Group, which has 21 former Hill employees on its staff. The Washington Post says 14,000 people work on Capitol Hill and 11,700 are registered to lobby this year.

In related news, Dutko Worldwide is letting news trickle out about its expansion into the Midwest. The firm, which is now known as Dutko Grayling after being acquired by Huntsworth, has partnered with Chicago-based attorney Thomas Hynes to make inroads in the region. There are no full-time employees there, but there may be if business is forthcoming.

Huntsworth First Half Revenue Up, Profits Down, Optimistic for 2012

U.K.-based Huntsworth reported a mixed bag of earnings for the first half of 2011, ending June 30. Revenue for the company was up compared to 2010, from £87 million to £88.1 million (about $143.4 million according to today’s currency exchange). However, operating profits were down year-over-year, from £13.6 million for the first half of 2010 to £11.5 million ($18.7 million).

In a statement, CEO Peter Chadlington said that changes across the business landscape (the importance of digital, the global nature of the work) along with the longer procurement process were big factors in the results. The company expects to reach its goal of seven percent like-for-like revenue growth rate for the year, but big account wins announced at the end of 2010 won’t make a financial impact until the beginning of 2012.

“When we reported our 2010 results in March this year, we indicated that such account wins were taking a long time to come on stream and we therefore expected revenues to be second half weighted,” he said. “This has indeed proved to be the case due to the lengthy procurement processes of our clients and the effect of the current economic environment delaying decision making.”

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Trouble for London PR Firms With Controversial International Ties

Anti-government protesters at Sanaa University in Yemen. Photo: Reuters/Ammar Awad

A number of London’s PR firms, including Bell Pottinger, the biggest in Britain, have come under fire for representing controversial clients, the London Evening Standard reports. In the case of Bell Pottinger, its client list includes the Egyptian Ministry of Information, the Economic Development Board of Bahrain, and it once worked with the Yemeni government.

“No amount of media harassment or sensationalism is going to stop me representing clients that have a legitimate right to tell their story,” Lord Bell, head of the firm and former comms adviser to Margaret Thatcher tells the paper.
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Huntsworth Purchases Atomic PR, Adds British Airways to Roster

Huntsworth, the U.K.-based PR and healthcare consultancy whose firms include Grayling, Huntsworth Health, Red, and Citigate, has added Atomic PR to its list of agencies. The move expands Huntsworth’s North American presence.

The acquisition, for $13.3 million in cash according to Reuters, accompanied the business’ preliminary results for the year ending December 31, 2010. Hunstworth reported an 11.1 percent increase in revenue to £173.6 million (about $286.14 million, based on today’s conversion rates) and pre-tax profit of £26.7 million (about $43.4 million).

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Huntsworth Says Revenue Will Fall Short This Year, But 2011 Looks Good

Huntsworth reports that about 65 percent of its 2011 revenue has been committed.  The company has a new “streamlined organisation” that it says is showing results with international clients. However, “contract negotiations” take time and revenue has to be moved to next year, meaning 2010 numbers will fall below management’s expectations. However, the company says it’s confident it will meet expectations next year.

In August, the company reported an 11 percent jump in new business on its interim results and about $132.1 million for the first half of 2010 ending June 30.

Among the company’s new client wins are Hyder Consulting PLC (Citigate), Volkswagen Middle East, Hilton Worldwide (both Grayling), and Barclaycard and Thistle Hotel Group (both RED).

Huntsworth Results Show Jump in New Biz

huntsworth.jpg.bmp Huntsworth, the international PR and healthcare communications consultancy, announced its interim results for the first half of 2010, reporting net new business wins up 11 percent from last year to about $41.2 million. (Dollar figures are converted from British pounds at today’s currency rates.)

The company also reported revenue of about $132.1 million for the period ending June 30, a year-over-year increase from about $118.9 million for the first half of 2009. According to the interim results press release, Huntsworth is on the path towards 7 percent revenue growth in 2011.

Huntsworth’s brands include Grayling and Citigate.