Continued Delay in Cordiant Results Drives Down Shares

27 March 2002

Continuing uncertainty over the release of Cordiant Communications’ 2001 results pushed the UK-headquartered agency group’s shares down 5.4% yesterday (Tuesday).

Cordiant’s failure to give a concrete date for the release has been the source of unease among analysts for over a week [WAMN: 18-Mar-02]. The company said it would announce results in “the second half of March” and has given no notification of any delay despite the increasing proximity of April.

The agency giant – owner of the Bates Worldwide network – expects a 9% drop in full-year revenues.

Data sourced from: BrandRepublic (UK); additional content by WARC staff