UPDATE 1-Huntsworth to buy Dutko for initial $33.6 mln

* Huntsworth to assume Dutko's debt of $9.7 mln

* Sees acquisition adding to EPS in 2010

(Adds details)

Dec 2 (Reuters) - British public relations firm Huntsworth Plc (HNTS.L) said it was acquiring U.S.-based Dutko Worldwide Holdings Inc for an initial consideration of $33.6 million, or 20.4 million pounds, to expand its global public affairs network.

The acquisition is expected to add to the company's earnings in its first full year of consolidation, Huntsworth said in a statement.

The company said further performance-based consideration would also be payable based on profit for each year to 2012.

Huntsworth will also assume Dutko's net debt of $9.7 million.

Dutko, whose key clients include Abbott Laboratories (ABT.N) and GlaxoSmithkline (GSK.L), gets 90 percent of its revenue from U.S.-based clients.

For the year to Dec. 31, 2008, Dutko reported pretax profit of $5.6 million on revenue of $33.3 million. Its gross assets were $51.7 million.

The Washington-based Dutko, which has a limited overlap with existing clients of Huntsworth, would enable Huntsworth to add U.S. lobbying and government relations services to its existing public affairs clients.

At 0820 GMT, Huntsworth's shares were trading up 5.18 percent at 66 pence on Wednesday on the London Stock Exchange. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Kavita Chandran)

((purwa.naveen@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: purwa.naveen.thomsonreuters.com@reuters.net))