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Chime Communications profit increases 14%

Marketing services group Chime Communications reported a 14% rise in 2009 profit and added that 2010 had started well.

Chime said it was cautiously optimistic for the full year as it reported pre-tax profit of £18.8m for the year ended 31 December 2009 compared with £16.3m the year before. Revenue rose to £300.9m from £277.4m earlier.

The group, which is chaired by Margaret Thatcher's former media adviser Lord Bell, said profit was boosted by improved margins after cost cuts while revenue was improved by its recent acquisition Essentially Group.

Lord Bell commented, "We outperformed the market and our competitors in 2008 and we have done so again in 2009. These are our best results ever... We have made three acquisitions, controlled costs and strengthened our existing business. 2010 has started well and we are cautiously optimistic for the outcome of the full year."

Chime's final dividend has been increased 10% to 3.50p per share.

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