Abbott Mead Vickers Profits Down

Abbott Mead Vickers yesterday reported a 2.6% drop in pre-tax profits for the first half of 1993, from £1.54m to £1.5m.

This drop was in spite of a strong increase in new business in recent months and an increase in turnover to £94.4m. David Abbott, chairman, is optimistic about 1994, saying there were signs that cutbacks in client spending seemed to be a thing of the past.

Profits growth had partly been held back by investment in software.