Medal-winning performance at Chime as Olympics boost results

THE OLYMPICS helped push pre-tax profit up almost 50 per cent in the first half of the year at Chime Communications.

The marketing and advertising group yesterday reported 47 per cent growth year-on-year in interim pre-tax profit to £10.9m, boosted by its contracts with almost a third of the 60 top sponsors of the Olympic and Paralympic games.

Its sports marketing division saw 161 per cent like-for-like growth in operating profit, which Chime said reflected its involvement in London 2012.

The firm, which in June sold off its main public relations business Bell Pottinger, has shifted its focus to sports marketing.

“Sports marketing has become the leading way for global brands to engage their audiences as the 2012 Olympic and Paralympic Games have demonstrated,” said Chime chief executive Christopher Satterthwaite.

Charles Stanley analyst Richard Nunn said the results indicated Chime was on track to benefit from the 2014 FIFA World Cup and the 2016 Olympics in Rio.