Business booms for Huntsworth and Citigate PR

Huntsworth, owner of public relations firms Red and Citigate, said it expects to return revenue growth this summer after recording a 33% year-on-year surge in revenue from new business wins in the first quarter. Huntsworth, which last year reported a year-on-year revenue fall of 2% to £156.3m, said that the company has 80% of its target revenues already committed and is raising goals as the year progresses. Huntsworth, which also owns a healthcare operation and PR firm Grayling, said that it was now on target to achieve a doubling of its pre-downturn organic revenue growth rate in 2011. Stronger financial markets have fuelled a 51% year-on-year increase in new business for financial PR operation Citigate. Citigate has achieved a commitment of 76% of full year revenue targets. Wins in the first quarter included easyGroup, the investment vehicle of Sir Stelios Haji-Ioannou, and Spyker, the Dutch car maker that recently saved Swedish Saab. Grayling saw a 25% year-on-year surge in new business in the first quarter. It has achieved 80% of targeted revenue commitment for the year. Red, which Huntsworth said had an "outstanding organic growth record in 2009", saw new business rise 13% year-on-year in the first quarter. Full year revenues are now 88% committed, the company said. Recent wins include Avis and Budget. "The level of revenues already committed for the full year and our growing ability to win bigger and more international mandates gives us confidence that Huntsworth will not only return to growth during 2010 but also that we are on track to meet our ambitious target of doubling our historic organic growth record during 2011," said Peter Chadlington, chief executive of Huntsworth. The company said that it may qualify for entry to the FTSE all-share index in the next annual review to be held on 9 June.