Marketing and public relations specialist Chime Communications has sold its public relations businesses, encompassing Bell Pottinger PR, BP Public Affairs, BP Sans frontiers, BP Middle East and Pelham Bell Pottinger for £19.6m, to a specially created company led by Chime chairman Lord Bell.
IC TIP:
Buy
The disposal will allow Chime to focus on its growing sports marketing business, but will affect revenues and profits. Analysts at Peel Hunt are expecting the disposal to reduce 2012 pre-tax profits by 10 per cent to £27m, giving EPS of 23p.
