Chime Communications, the marketing services group run by Lord Bell, has reported a recession-busting set of results with a record pre-tax profit up 4% to £8.5m in the first six months of the year.

Chime, which saw its share price briefly touch a 52-week high of 175p in early trading off the back of the strong results, reported operating income up 7% to £58.4m.

The strong set of results led Chime, which owns companies including ad agency VCCP and PR firm Bell Pottinger, to increase its dividend by 4% to 1.6p per share. The company said it may make acquisitions in preparation for a possible upturn next year.

"Having delivered the highest profit in our history, we have outperformed the market and our competition and achieved first-half results ahead of expectation," said Lord Bell, Chime's chairman. "We are delighted and remain cautiously optimistic for the full year."

Chime's PR and advertising and marketing services division reported double-digit growth.

The public relations operation, which includes Harvard and Good Relations, saw operating income increase by 10% year on year to £32m and operating profits rise 25% to £6.7m.

The advertising and marketing services operation, which includes VCCP and sports business Fast Track, saw a 10% increase in operating income to £23.4m, but a 4% fall in operating profit to £3.4m.

The only blemish was Chime's research operation, which includes companies Opinion Leader and Facts International, which experienced an operating income fall of 26% to £3m and an operating profit drop from £500,000 to zero year on year.

Chime's operating profit margin in the first six months of the year was 16.1%.

Chime's share price rose 3.75p, or 2.24%, to 171.5p in early trading.

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