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Loss-laden French media group, Vivendi, is to announce its Q1 headline figures this afternoon, after unveiling a full-year loss of E13.6 billion in March (see Write-Offs Push Vivendi £8.3 Billion Into The Red). According to predictions by analysts at ABN Amro, Vivendi will today reveal Q1 revenues up 6.9% to E6.3 billion and earnings up… Continue reading Troubled Times For Vivendi’s Messier

Following weeks of speculation by the media and consternation on the part of the Football League, administrators announced yesterday that ITV Digital is to be sold off as a going concern. In a statement released yesterday evening, Deloitte & Touche announced that “it has not been possible to restructure the cost base of ITV Digital”… Continue reading ITV Digital To Be Sold As ‘Going Concern’

The global economy will grow by 2.8% this year, according to the latest outlook forecasts from the International Monetary Fund (IMF). This prediction is more optimistic than the 2.4% growth for 2002 that the IMF had previously forecast in December. In 2003 growth is expected to rise again to 4.0%. The improvement in economic conditions… Continue reading US Leads Global Economic Recovery After ‘Near-Recession’ In 2002

Pre-tax profits at marketing and communications company, Cordiant Communications, more than halved in 2001 following a year of restructuring and cost-cutting. Profits fell by 52.2% from £57.5 million in 2000 to £25.7 million for the year ended 31 December 2001. This is excluding exceptional items and goodwill, after which Cordiant posted a pre-tax loss of… Continue reading Cordiant Profits Hit By ‘Extremely Difficult’ Year

Continued weakness in the US economy has pushed WPP Q1 revenues down by 2% on last year, £945.8 million for the period to end of March 2002 compared with £966.4 million last year. A 6% revenue increase in Europe was abrogated by a drop of 7% in North America, the UK was up over 2%.… Continue reading Continued US Weakness Hits WPP Revenues

Nokia yesterday slashed its growth forecasts for 2002, knocking confidence in the telecoms market and causing its shares to plummet. Recently renewed optimism, brought about in part by Motorola’s reassurance that it was on target to attain positive growth this year, was reversed as telecoms shares including Ericsson, Motorola and Alcatel fell. Nokia has downgraded… Continue reading Nokia Slashes Growth Forecasts For 2002

Kirch Group’s loss making pay-TV division, Premiere World, has been approached by a number of interested parties hoping to take a stake in the business, chairman Goerg Kofler has told the Financial Times Deutschland in an interview. Recent speculation has been over the possibility of BSkyB increasing its 22% stake in Premiere World, although the… Continue reading Kirch Pay-TV Receives Suitor Interest, Says FT Deutschland

Following the release of Q1 sales totals, Finnish mobile phone giant Nokia yesterday slashed its growth forecasts for 2002, knocking confidence in the telecoms market and causing its shares to plummet. Recently renewed optimism, brought about in part by Motorola’s reassurance that it was on target to attain positive growth this year, was reversed as… Continue reading Nokia Slashes Growth Forecasts For 2002

Pre-tax profits fell by 39.0% to £36.0 million at SMG, whilst turnover dropped by 6.6% to £280.8 million, according to the company’s year-end financial results released this morning. Whilst SMG has clearly been hit by the advertising downturn in the year to 31 December 2001, these results are pretty much in line with market expectations.… Continue reading SMG Profits Hit By Ad Downturn

The German economy – Europe’s largest – officially moved out of recession in the first quarter of this year, according to a report from the World Advertising Research Centre. The country’s Federal Statistics Office said the economy expanded slightly, by 0.2% in Q1 2002, following a 0.3% decline in Q4 2001 and a 0.2% fall… Continue reading Germany Economy Moves Out Of Recession