News from Abchurch

Abchurch calendar year review 2011

15 December 2011 

• Strong performance despite market conditions, with project income increased by 13% and 12 new retained clients joining the portfolio  
   
• Solid base of over 50 clients with the addition on the corporate side including BrandAlley, Chargemaster, Emerald Networks and Amati Global Investors
   
• Design, rebranding, website design, digital, corporate and business to business programmes contributed significantly to the growth
   
• Private Client Investment Manager (“PCIM”) programmes will continue to be a major growth area for 2012
   
• The Abchurch team remains the business’ crown jewel and we are committed to very focused ongoing recruitment, personal development, training through the Abchurch Academy, and reward.

Overview
Abchurch progressed strongly throughout 2011, thanks to the determination and effort of the team. The market remains buoyant for well executed Financial PR, with companies and brokers alike understanding the importance of share demand below institutional level. Abchurch’s expertise is now called upon more frequently for Private Client Investment Manager (“PCIMs”) programmes and specialist retail investor-press media work.

Project income was up 13% on the previous year, reflecting better marketing of the broader product range Abchurch offer, and due to our IPO, strategic counselling and financial transaction work.  Having advised on 67 successful IPOs in a five year period, we advised this year on the successful IPO of Spectra Systems plc (USA) and the introduction to AIM of Dongfang Shipbuilding (China).  Other Financial PR gains included Kedco PLC, Medgenics Inc, Avacta Group PLC and Noble Investments (UK) PLC.

Website Design, rebranding, digital, corporate and B2B programmes, and our “starter pack” product for businesses seeking to raise funds but needing a professional presentation, personal introductions and a guiding hand in the City, all contributed to the healthy growth in Project fees.

Retained client numbers increased 8% with the addition of some well-known corporate names including BrandAlley, Chargemaster, Emerald Networks and Amati Global Investors. Two clients were acquired through a stockbroker undertaking statistical analysis to establish which PR firm gets the most and best coverage in the retail investor press. These gains occurred heavily towards the second half of the year, and the pipeline for the beginning of 2012 is considerably high.

People
The Abchurch team remains the business’ crown jewel, committed to focused ongoing recruitment, personal development and training through the Abchurch Academy. Joining the team Oliver Baxendale and Jessica Allum, both graduate trainees with first Class Honours degrees, are benefitting from the Academy’s internal and external training modules, coupled with experience across the breadth of our product range, allowing them to progress through the firm as fast as their own ability and enthusiasm dictate.

Joanne Shears, who joined the Graduate Training Programme in 2006, was promoted to Director in October.  With guidance from, the Managing Directors, she manages a significant portfolio and is a testament to the Academy’s success and to the career opportunities offered.

Adam Michael joined as Director to head our Life Sciences practice, to which we have added Medgenics, Stratophase, Avacta and F-Star so far.

Politics graduate Jamie Hooper also joined us with 18 months’ prior PR experience as well as some marketing work at a research based pharmaceutical company.

During 2011 we introduced a new remuneration scheme that includes a company profit element and a significant personal performance element, rewarding individual performance and contribution on a monthly basis.

The business continues to be run by Abchurch’s three founders, Julian Bosdet, Henry Harrison-Topham, and Sarah Hollins.

International
26% of our 2011 fee revenues came from businesses domiciled overseas.  We have always been at the forefront of promoting London as an unrivalled financial centre in terms of funds available, a renowned analytical community, and a world class financial advisory infrastructure that come together to make it highly attractive to  overseas businesses.

China has been a major focus for Abchurch since 2004 and we have developed our client base and network significantly in 2011; as the world’s fastest growing economy cannot be ignored.  As part of our China activity we host high-level discussion groups on the issues faced and consider ways for the City to address them collectively.  This summer we travelled to Inner Mongolia to speak alongside the London Stock Exchange, hosted a delegation from Tianjin in London and met with other Chinese business leaders considering raising capital in London.

Abchurch remains an active member of IPREX, one the world’s largest public relations networks, which provides an international dimension in the execution of global programmes.  This year members of the team attended the Global Leadership Conference in Miami; the Annual meeting in Washington, and the EMEA Spring and Fall meetings in Belfast and Stockholm. Abchurch is hosting the IPREX Annual meeting in May 2012 in London.

Keeping connected
Alongside our China focus groups we host a number of events throughout the year. With the natural gravitation towards on-line meetings and communication, the City’s benefits and collective knowledge risk being lost as contacts become email addresses and faceless members of conference calls.  To address this Abchurch runs an events programme aimed at keeping the City connected.  In 2011 we hosted themed Market Lunches for over a hundred different guests, held sector specific parties including those for the Cleantech and Life Sciences industries, and our Leeds office held its annual Northern Region Clay Shoot at Ripley Castle.

Future Faces, our quarterly lunch party for the City’s rising stars from various intermediary disciplines hosts up to 100 guests and generates many beneficial connections.

If you would like to drop in to our Sky Bar at our offices in 125 Old Broad Street, please contact one of the Team.

Outlook for 2012
2012 is a hard market to call as so much is dependent on the eurozone and other factors beyond the UK’s control. The changes to EIS rules, which of course first require ratification by the EU, may provide a welcome boost to the fund raising market, both public and private. We believe that the potential impact of these changes remains understated at present and we are working with other advisers to make the most of this forthcoming opportunity.

A major area of growth for Abchurch is the PCIM product; helping out those who do not have access to the necessary contacts. Institutions do not appreciate their portfolios being dragged down in value by relatively small volumes of shares being traded at low values. The only realistic way to address this is to create interest and demand at both the retail investor level and also within the PCIM community.

We remain one of very few independent financial PR Consultancies in the UK Top 15 (source: Hemscott 2011). Our independence enables us to react quickly to market conditions with innovative products and to adjust our resources quickly and, as we are 100% employee owned, in a collegiate manner.

The Abchurch team wishes our clients, contacts, advisers, and our wider network, a merry festive season and a prosperous 2012.

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