Worldwide advertising network, Grey Global Group, has reported that revenues for 2002 were essentially flat when compared to 2001, despite a 10.5% rise in the fourth quarter. This came principally from the company’s North American operations.
The company said that full-year increases for its US operations were offset by poorer figures coming from the international divisions, notably the northern Europe and Latin American markets.
Net income from operations in Q4 was $9.5 million, up from $3.6 million in Q4 2001. For the full year, net income from operations was $18.3 million, as compared to $7.8 million earned in 2001 – an extremely healthy 135% rise in tough advertising conditions.
