Grayling and Citigate parent company Huntsworth has promised an acquisition drive in growth markets as it announced a 10.6 per cent drop in pre-tax profits for the year ended 31 December 2013.
The plan involves a deepening of its relationship with strategic partner BlueFocus, the China-based marketing group which this time last year agreed to buy 19.8 per cent of UK-listed Huntsworth.
BlueFocus and Huntsworth have signed a framework agreement for a joint venture, which the latter’s chief executive Lord Chadlington said would invest in growth countries, and especially in digitally strong firms in Asia-Pacific, “to complete the Huntsworth/BlueFocus global network”.
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