FleishmanHillard profits more than double in 2017
Mid-size public relations firms will be squeezed out as more clients demand fully integrated media and communications, according to Rhona Blake, managing director at FleishmanHillard and one of the country's best known PR consultants.
Its a "golden age" for firms that offer a fully integrated service - from creating ads to managing communications, but smaller firms will struggle, she said.
"Either you have the critical mass or you go down the very specialist route. The mid-sized firm trying to do everything will find it hard," she said.
Accounts just filed show FleishmanHillard recorded a surge in turnover to €11.3m last year, up from €6.8m in 2016. Costs rose almost €5m to €7.4m. Profits more than doubled to €568,083 for 2017.
The changes reflects rising media spend but also centralisation to Ireland of management of FleishmanHillard's international clients - now increasingly "hubbed" from Dublin, Rhona Blake said.
"Hubbed" business includes a mix of domestically and foreign-owned international brands like Primark and Ballymore, Fitbit and Roche.
Unusual activities this year included the royal visit by Prince Harry and Megan Markle to FleishmanHillard client Epic's Irish emigration museum; and the Pope's visit which involved a big role for Skoda - another FleishmanHillard client.
The Irish arm of FleishmanHillard is part of the global marketing and corporate communications giant Omnicom.