Advertising Industry Financial Report

Touche Ross has conducted its eighth annual survey of profitability amongst advertising agencies.

Results show that the WPP Group has now beaten Saatchi into second place as the biggest long – term borrower in the advertising industry . The general picture of the sector is of companies suffering from under-capitalisation, lacking strong management and weighed down with debt from acquisition which they are now trying to sell off.

For the fifty agencies surveyed, long- term borrowings increased to £1.2bn from £518m in the previous report. Touche Ross: 071 405 8799