Global advertising agency Abbott Mead Vickers (AMV) has released its preliminary annual results today for the year ended 31 December 1997; the results show a 19% increase in pre-tax profits at the group to £17.28 million.
AMV’s turnover was up from £358.40 million in 1996 to £431.32 million this time – a rise of 20%. Operating profit stood at £16.54 million, also up 20%. Earnings per share rose from 5.5p to 6.5p year on year.
The year saw AMV clinch a number of high-profile contracts such as Aer Lingus, Volvo and BT Business Communications. The group was also honoured by Campaign recently by being placed in the number one spot of its Top 30 Agencies table (subscribers see AMV Tops Campaign Agency Table).
AMV also announced today that its Leagas Delaney division has been been bought by management (see earlier Abbott Mead Sells UK Ad Agency story). Leagas Delaney is looking to international expansion and believes that it can best achieve this independently. The buyout will be completed on 7 April 1998.
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