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.