Cordiant Turns Loss Into Profit

Cordiant, the world’s largest global advertising and marketing group, has announced pre-tax profits of £15.5 million, compared to a loss last year of £29.6 million, for the six months ended 30 June 1996. The group’s revenues dropped slightly however, down from £374.7m in 1995 to £365.8m this year.

In the UK revenue was reduced by 6.9% as a result of the major account losses in 1995 which had the largest impact in this country: revenue fell from £59.6m in 1995 to £55.5m this year. Profit also fell in the group’s UK companies, dropping from £8.0m to £7.2m.

Within the group as a whole however, the first quarter of 1996 saw a number of major account wins, including BMW, Campbell Soup, Johnson & Johnson, Kodak and Toyota.

Cordiant: 0171 436 4000