Global ad group Cordiant is reported to be considering selling off some of its agency businesses as it struggles to overcome financial difficulties. Industry speculation suggests that it may announce the demerging of Saatchi and Saatchi and Bates Worldwide when financial results are released next month.
The last set of results in August revealed that in the UK the group’s revenue was reduced by 6.9% as a result of major account losses in 1995:
revenue fell from £59.6m in 1995 to £55.5m for 1996 and profit dropped from £8.0m to £7.2m.
WPP is believed to be interested in buying Bates Worldwide.
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