WPP chief sees further growth in revenue, profit
Article Abstract:
WPP Group PLC's CEO Martin Sorrell, is optimistic that the company will attain continued increase in operating profit margins and revenue. The company, which is based in the UK, posted an 11% gain in revenue in the third quarter of 1998 from a year earlier to 471 million pounds sterling or $801.5 million. The increase was prompted by double-digit percentage increases in revenue in the UK, the Continental Europe and North America. In addition, the net new business billings of WPP Group, which is the largest advertising and marketing services company across the globe, grew almost twice to 330 million pounds sterling as the company secured new accounts, each valued at around $100 million, from Merrill Lynch & Co., International Business Machines Corp. and Siemens AG.
Comment:
Its CEO Martin Sorrell, is optimistic that this co will attain continued increase in operating profit margins and revenue
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Granada's debt shrinks; TV revenue is strong
Article Abstract:
Granada Group PLC's strong cash flow and asset disposals are expected to lessen the company's debt to an estimated GBP2.2 billion by the end of the fiscal year. The company reported an increase of 13%, to GBP274 million in pretax profit before exceptional items in the first half of fiscal year ended March 28, 1998. Granada's television advertising revenues added a 12% increase in sales at continuing businesses to GBP1.93 billion. Granada's operating profit from its television grouup increase 26%, to GBP112 million as sales rose 49%, to GBP 491 million. The company's hospitality operating profit increased 19%, to GBP226 million as sales rose 8.7%, to GBP1.24 billion.
Comment:
Its strong cash flow & asset disposals are expected to lessen the co's debt to about GBP2.2 bil by the end of the fiscal year
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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BSkyB earnings reflect digital effort
Article Abstract:
British Sky Broadcasting Group PLC (BSkyB) reported a 14% decline in its pretax profits for the fiscal year that ended Jun. 30, 1998, to amount to 271 million pounds sterling ($442.2 million). The company was able to post a 15% increase in sales to amount to 1.43 billion pounds sterling, but spent 170 million pounds sterling for its digital-television investments. BSkyB is currently sacrificing its earnings in favor of investment to be able to improve its market share in time for its introduction of around 150 channels on Oct. 1, 1998.
Comment:
Reports a 14% decline in pretax profits for the fiscal year that ended 6/30/98 to amount to 271 mil pounds sterling ($442.2 mil)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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