NEW YORK: PR agencies posted strong performance in 2010, with profitability rebounding to the 2008-level after hitting a four-year low in 2009.
According to an annual report from communications consultancy StevensGouldPincus, profit margins in 2010 rose to 15.6%, on a par with 2008, following a decline to 13.5% in 2009. The results are based on reports from 104 prominent agencies across the US.
The survey found that average profitability was brought down by firms with net annual revenues below $3 million, with ...