15 November 2012
Financial public relations is really feeling the squeeze at Citigate Dewe Rogerson, which today blamed the downturn in the City for a 17% plunge in revenues in the past three months.
Sally Withey, chief operating officer at parent company Huntsworth, said: “Europe and the Far East showed some growth but the division was held back in London by the continuing lack of activity in the UK financial markets.”
Across the marketing group, revenues tumbled 3.6% against a 7% rise a year ago, as growth in Huntsworth’s consumer PR wing, Red, and its health division failed to offset Citigate’s woes. Annual profits before exceptionals will be at the low end of expectations, sending the shares down 3% or 1.4p to 44.75p.
