CGT advertises its global aspirations

Article Abstract:

CGT has acquired BDDP in order to strengthen its presence in key markets at a time when international enterprises are reducing the number of agencies used. BDDP has retained clients despite difficult market conditions, but suffered financial problems after the acquisition of Wells Rich Green at the start of the 1990s. The acquisition has meant CGT taking on debt and there will be exceptional charges for 1996 to 1997. BDDP should contribute to CGT's profit in 1998 with an operating profit of 18 million pounds sterling.

CGT, BDDP Group

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Demerger blasted

Article Abstract:

Cordiant's planned demerger has been criticised by WPP chief executive, Martin Sorrell and industry analysts. Sorrell argues that the plan does not reflect client needs but rather the desire of individuals to run businesses themselves. Cordiant aims to spin off Bates Worldwide and Saatchi and Saatchi to become separate companies with their own listings. The rationale is that intra-group client conflict would thus be avoided and new accounts could be gained more easily.

Bates Worldwide, Saatchi & Saatchi Company PLC, Cordiant PLC

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