Cordiant Reports Positive Finances In First Independent Year

Global communications company Cordiant Communications has released a trading statement this week following its annual general meeting. It confirmed a strong financial performance in its first whole year as an independent company. Cordiant split from Saatchi & Saatchi towards the end of 1997 (see Newsline).

In the first five months of 1999, the group reported a 7.5% growth in revenue (6.5% at constant exchange rates). The Group says that its revenue growth targets are intact and that it is on track to achieve a 10% operating margin during 1999. The group’s share price rose 1p yesterday to 180˝p.

Cordiant Communications: 0171 262 4343