Bell Pottinger has lost at least 25 per cent of its listed UK clients in the last month, potentially costing the firm up to £1.4m in revenues, research by City A.M. has found.
The disgraced PR firm represented 47 companies on the London Stock Exchange last month, a fall from 60 in early 2017. Bell Pottinger therefore dropped from fifth to ninth place in Adviser Rankings’ league table for financial PR.
City A.M. has learned that at least 12 more listed companies that relied on Bell Pottinger for financial PR services last month have dropped the firm. With more expected to follow, the firm looks set to slip down at least another six places, beneath rivals such as Yellow Jersey, St Brides Partners and Tavistock Communications.
A senior PR source estimated that the average listed company contract would rake in between £5-10,000 a month for a firm like Bell Pottinger. Therefore, the outfit could have lost up to £1.4m a year from the 12 companies to have served their notice so far.
We Buy Any Car owner BCA Marketplace, real estate investment trust NewRiver and packaging firm DS Smith are among the companies to have now ditched Bell Pottinger.
Rat catcher and business services group Rentokil, RM Secured Direct Lending, Utilico Emerging Markets, Kibo Mining and Zanaga Iron Ore Company have also fled. They join wealth management company St James’s Place, construction firm Carillion, student housing group Unite and Central Asia Metals in recently leaving Bell Pottinger.
Elsewhere, Imperial Brands, car dealer Lookers, rental property fund Phoenix Spree Deutschland, publisher Quarto and payment service provider SafeCharge have their contracts with the firm under review.
Other firms not on the list have also ruled out doing any further work with Bell Pottinger, including HSBC, EY, Hickman and Rose, Investec, CYBG, Richemont, Acacia Mining, Pan African Resources and Tharisa. Others, including Sabadell, Bank of Ireland, TalkTalk and Arqiva, have contracts under review.
Here are Bell Pottinger’s 47 UK-listed clients from last month, and their current status with regards to Bell Pottinger, according to Adviser Rankings (? = no comment/ non-contactable/ awaiting response):
|Listed clients as of August||Relationship status|
|Albert Technologies Ltd||?|
|Arbuthnot Banking Group PLC||“Is still a client of Bell Pottinger, and is monitoring the situation on an ongoing basis.”|
|BCA Marketplace PLC (J)||It's over|
|Be Heard Group PLC||?|
|BioPharma Credit PLC||?|
|Bloomsbury Publishing PLC||?|
|Carillion PLC||It’s over|
|Cenkos Securities PLC||?|
|Central Asia Metals PLC||It’s over|
|Cineworld Group PLC||“We do not discuss details of our contracts.”|
|Clipper Logistics PLC||No comment|
|GCM Resources PLC||?|
|Global Invacom Group Ltd (J)||“has always found Bell-Pottinger to be thorough, reliable, creative and an asset to the group.”|
|GVC Holdings PLC||?|
|Hansard Global PLC||?|
|Imperial Brands PLC||Under review|
|Indus Gas Ltd||?|
|JSC KazMunaiGas Exploration Production||?|
|Juridica Investments Ltd||?|
|Kibo Mining PLC||It's over|
|Lookers PLC||Under review|
|mporium Group PLC||?|
|Mulberry Group PLC||?|
|NewRiver REIT PLC||It's over|
|Non-Standard Finance PLC||?|
|Phoenix Spree Deutschland Ltd||Under review|
|Portmeirion Group PLC||?|
|Premier Oil PLC||?|
|Primary Health Properties PLC||?|
|Quarto Group (The), Inc.||Under review|
|Rentokil Initial PLC||It's over|
|RM Secured Direct Lending PLC||It's over|
|SafeCharge International Group Ltd||Under review|
|Secure Trust Bank PLC||?|
|Shore Capital Group Ltd||?|
|Smith (DS) PLC||It's over|
|SOCO International PLC||?|
|St James’s Place PLC||It’s over|
|The Property Franchise Group PLC||?|
|UNITE Group PLC||It’s over|
|Utilico Emerging Markets Ltd||It's over|
|Zanaga Iron Ore Company Ltd||It's over|