Print Published 15th Jul 2017, 10:52

Revenue up, profit down after private equity bought Chime

The results of the first full year’s trading at Chime Group Holdings, the global sports marketing group reincarnated with private equity backing from Providence Equity Partners, show how hard it will be to achieve a post-tax profit if all the financing costs have to be met out of income too.

Until July 2015, Chime Communications was a publicly listed company.  In the preceding year to 31 December 2014, the group reported revenue of £390.4 million, an operating profit of £18.3 million and a post-tax profit of a little over £9.4 million.

In 2016, restructured as a private company, the group earned substantially greater revenue of £490 million.  But it suffered an operating loss of £2.1 million and a post-tax loss of £17.4 million.