Japanese agency Dentsu - one of the globe’s largest – posted record profits for the twelve months to March.

Driven by a 13.4% rise in sales to Y1.81 trillion ($14.76 billion), group net profits nearly doubled, from Y20.7bn the previous year to Y41.37bn.

“Information technology-related advertising contributed to the record earnings in the last business year and in 1999/2000,” declared Dentsu, adding that the results also reflected the first rise in overall Japanese adspend for three years.

Expenditure on advertising in Japan jumped 7.2% in 2000 to Y6.11 trillion, beating the previous record, set in 1997, of Y5.99 trillion, said the agency.

Dentsu added that it had not yet finalised details of its planned initial public offering, slated for completion by the end of the year [WAMN: 27-Feb-01].

News source: CampaignLive (UK)