Saatchi & Saatchi have announced results for 1993. The pre-tax profits were up to £19.2m, from a heavy loss in 1992 of £595.1m. Trading profit for the UK was £9.5m in 1993, compared to a loss of £1.8m the year before. The company said that the revenue for 1994 is expected to be lower than in 1993.
DOUBTS OVER MAID SHARE FLOAT
There are serious doubts about the future floating of MAID, the database company due to come to the stock market in 10 days time. The problem is friction between MAID and its suppliers. A number of information providers are believed to be frustrated with the terms of their contracts with MAID; several are seeking price increases in the cost of supplying their data. Clients too are dissatisfied with the fees for the service. The company is to be valued at £120m, which puts it on a price-earnings multiple of 200-plus times.
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