Profits Up At Australian Ad Group

26 February 2009

SYDNEY: The Mitchell Communication Group, Australia's largest independent marketing services conglomerate, posted a 27% increase in revenues to A$111.5m ($72.1m; €56.6m; £50.6m) last year, with net profits also rising by 12% to A$8.1m in 2008.

According to the company's figures, revenues from its media division rose from A$36.4m in 2007 to A$41.3m last year, compared with growth from A$64.4m to A$109.8m in its digital unit.

Its smaller "diversified division" – which includes PR, mobile marketing and sponsorship operations – also saw revenues rise from A$29.0m to A$40.1m.

Stuart Mitchell, the company's ceo, predicted that total earnings would increase by 10% this year, and also said that online revenues had "slowed a little bit but not to the degree" of other media last year.

Earlier this week, the Photon Group, another Australian advertising holding group, posted a 94% increase in revenues to A$376.8m, with areas of growth including online, field marketing and PR.

Data sourced from Sydney Morning Herald; additional content by WARC staff