WPP's Sorrell cashes in on firm's solid recovery
Article Abstract:
WPP Group PLC has received the last tranche of its pay-for-performance package worth less than 20 million pounds sterling ($33 million) that is linked to its share price. The payout marks the conclusion of WPP's 1994 incentive program that was targeted to return the company to profitability levels after almost ending up under Chapter 11 bankruptcy protection. The four tranches were precipitated by improving share prices from 198 pence at the beginning, to 304 pence at the last in a 60-day time frame.
Comment:
Receives the last tranche of its pay-for-performance package worth less than 20 mil pounds sterling ($33 mil)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Pretax profit in 1998 rose to 31 million at Saatchi & Saatchi
Article Abstract:
Saatchi & Saatchi PLC posted a 31% increase in its pretax profits for the 1998 year. The agency was helped by new accounts and additional business from current blue-chip customers. Saatchi & Saatchi posted 30.7 million pound sterling ($49.9 million) in pretax profits, compared to 23.5 million pound sterling in 1997. The agency posted a 6% increase in revenues to 363 million pound sterling.
Comment:
Posts 31% increase in its pretax profits for the 1998 year
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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