Bad end to 2011 dents Huntsworth full year numbers
Public relations and healthcare communications specialist, Huntsworth, says cancellation of contracts in the final three months of 2011 reduced full year revenues and profits.
Public relations and healthcare communications specialist, Huntsworth, says cancellation of contracts in the final three months of 2011 reduced full year revenues and profits.
Group revenues rose by 1.5% to £176.3m versus £173.6m in 2010. The consensus expectation was £177.87m.
Operating profits after central costs fell by 20.6% to £23.5m (2010: £29.6m).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Profits before tax came in at £19.1m, slightly ahead of expectations of £19.04m, but exceptional charges reduced the reported figure to £10.6m.
Earnings per share after the exceptional items was 3.9p against expectations of 6.2p (discounting the exceptionals, earnings per share was in line with expectations).
The full year dividend will be 3.5p, just short of the forecast of 3.52p.
Peter Chadlington, Chief Executive of Huntsworth, said: "Management has taken action to reduce the cost base across the group, as well as make it more flexible and better able to match clients' requirements and spending patterns."
He added: "In the current year, we anticipate first quarter like-for-like revenue growth of 3.0% and about one quarter of 2012 budgeted profits to be earned in Q1 [the first quarter] - a significantly higher proportion than in previous years. The group's new business pipeline is strong and we expect the improvement in profitability to be maintained both in the first half and for the year as a whole."
Shares in Huntsworth had dropped 4% by 08:41. Since the start of the year the group has risen 37% although it is still 32% down over the last 12 months.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
NS&I cuts interest rates on 7 savings products – full list of changes
The cut means NS&I’s savings bonds are far less competitive than other fixed term bonds on the market. We look at what’s changed.
-
Cash ISA changes: Can Reeves create the culture shift needed to get savers to start investing?
Opinion Rachel Reeves will reportedly cut the cash ISA allowance this month - but, without a significant campaign to encourage investing, a limit on cash ISAs will not shift the deep and culturally embedded mindset that stops people from investing in the first place, says Kalpana Fitzpatrick