NEWS: Cordiant backs Rowland Co in analyst briefing

Bob Seelert, chief executive of advertising and PR group Cordiant, reaffirmed the group’s commitment to its PR operation The Rowland Company this week.

Bob Seelert, chief executive of advertising and PR group Cordiant,

reaffirmed the group’s commitment to its PR operation The Rowland

Company this week.



The comment came at an analysts’ briefing as he unveiled a loss before

tax for Cordiant of pounds 22.6 million for 1995 - compared with a

profit of pounds 32.4 million in 1994 - after taking account of

exceptional operating costs and a net loss on disposals.



Revenue was up by 2.1 per cent while trading margins increased from 5.7

per cent to 6.4 per cent. Cordiant, which also owns US corporate

communications firm Siegel and Gale, does not split out figures for its

PR operations but revealed Rowland had ‘a good performance in Europe in

terms of revenue’, although the ‘UK market was difficult’.



In Belgium, an increase of 34 per cent in revenue on 1994, was, said the

company, ‘partly due to the good performance of Rowland Brussels’.



* Grayling Group parent Lopex announced a pre-tax profit of just under

pounds 1.46 million for 1995, compared with a loss of pounds 890,000 in

1994, after deducting exceptional items amounting to pounds 546,000.

Turnover was down, from pounds 145 million to pounds 132 million.



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