Grey reports record second-quarter results
Advertising and communications company Grey Global Group reported record second quarter results, with revenues up 17% on the same period last year to more than $2bn.
LONDON (Brand Republic) – Advertising and communications company Grey Global Group reported record second quarter results, with revenues up 17% on the same period last year to more than $2bn.
Net income for the quarter was $5.7m and $10.8m for the first half of the year. These figures compare with net losses of $6.6m and $6.5m respectively for the same periods in 1999.
The company consolidated its operations in June and changed its name to Grey Global Group, which is the umbrella brand under which its communications activities operate.
Grey Worldwide became the name of its international advertising agency business, which includes Grey Advertising and Callegari Berville Grey, the company resulting from the acquisition of French group Callegari Berville earlier this year.
Other subsidiaries include: Grey Interactive, which boasts accounts such as Thomson Multimedia and Canal+; and Beyond Interactive, which acquired the UK online media planning and buying agency Media21 earlier this year.
GCI Group, the company’s public relations arm, has won accounts including General Motors, McGraw Hill, Royal Mail and Salomon Smith Barney Schroders in the UK and Amazon.com in France.
MediaCom, its media buying network, recently opened offices in San Francisco and Los Angeles. It has won contracts to work with COI Government Communications print assignment, Mercury Records and the UK’s Inland Revenue.