FTI's strategic comms arm reports flat 2013 after fourth quarter slump
FTI Consulting's communications division saw annual global revenues drop by just under one per cent after a fourth quarter performance hit by a lack of lucrative projects in the US and Europe.
FTI Consulting global CEO Edward Reilly
The City and corporate PR giant announced global annual revenue last year of $186.2m, slightly down from the 2012 figure of $187.6m.
The strategic comms unit saw its profit margin drop from 13.3 per cent in 2012 to 10.1 per cent last year and EBITDA fall by 25 per cent to $18.7m from $25m.
The company pointed to a tough fourth quarter for the division, which saw revenues decrease 6.8 per cent to $46.9m.
FTI said the division’s performance was impacted by drops in "pass-through revenues" and "high-margin project fees" in the EMEA and North America regions over the last three months of 2013.
Adjusted Segment EBITDA was $5.9m or 12.6 per cent of segment revenues, compared to $8.7m or 17.4 per cent of revenues in the fourth quarter last year.
Overall, FTI saw 2013 group revenues increase by 4.8 per cent to $1.65bn compared to $1.58bn in the prior year period.
This article was first published on prweek.com
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