LORD Bell’s Chime Communications saw its shares slump more than five per cent yesterday despite its pre-tax profits surging 15 per cent.
The PR outfit was boosted by strong growth in its sports marketing and advertising divisions.
Bell, who is a former media adviser to Margaret Thatcher, expects 2012 to be a good year for the firm in terms of sport and sponsorship, with opportunities arising from the Olympic Games.
The firm also expects to benefit from the political upheaval in the Middle East. It is currently working with the National Transitional Council in Libya, as well as the governments of Bahrain and Yemen.
Revenue from its sports marketing division was up 62 per cent in its first half. Pre-tax profit was £14.2m, compared with £12.3m a year ago. Revenue rose 13 per cent to £153.4m.
Shares in Chime have fallen by a third since its high of 300p each in May, to 201p last night.